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Bank of America plans bear Accelerated Return Notes linked to Russell
By Angela McDaniels
Tacoma, Wash., Jan. 23 - Bank of America Corp. plans to price 0% bear Accelerated Return Notes due August 2012 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus three times the absolute value of any index decline, subject to a maximum return of 12% to 16% that will be set at pricing. Investors will lose 1% for every 1% that the index increases.
The notes are expected to price in January and settle in February.
Bank of America Merrill Lynch is the agent.
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