Peanutty Caramel Bars

Directions

1. 1
   In a large bowl, heat caramels, water and 1/2 cup peanut butter on high for 1 minute, stir.
2. 2
   Microwave 1-2 minutes longer or until melted.
3. 3
   Add cereal and peanuts; stir until coated.
4. 4
   Spread into a greased 13x9x2-in pan; set aside.
5. 5
   In another bowl, heat chips, butter and remaining peanut butter on high for 30-60 seconds or until melted.
6. 6
   Spread over cereal mixture.
7. 7
   Chill before cutting.