Spray 13x9-inch pan with cooking spray. In large bowl, combine cereal, raisins and peanuts; set aside.
In 2-quart saucepan, place corn syrup and sugars. Heat to boiling over medium heat, stirring constantly; remove from heat. Stir in peanut butter.
Pour peanut butter mixture over cereal mixture; mix until thoroughly coated. Spread evenly in pan.
In small microwavable bowl, microwave chocolate chips on High 1 minute, stirring every 15 seconds, until melted and smooth. Drizzle over bars. Refrigerate 15 minutes or until chocolate is set.