No it will not. You'll still be on ics and whatever rom your using. Also, I wouldn't suggest you do a factory reset from within the phone or you can have complication. Boot in to recovery and factory reset from there.
Sent from my SGH-T989 using xda premium
Google Nexus 4 (16GB)
Running Paranoid Android
Loving the heck out of it!:
You underestimate the power of the D A R K S I D E
White TMO SII SGH-T989 (Darkside ROM)
Remember to hit the THANK button if I helped