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Bank of America plans Bear Strategic Accelerated Redemption Securities on Russell
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Bank of America Corp. plans to price Bear Strategic Accelerated Redemption Securities due April 2018 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at a premium of 8.5% to 12.5% per year if the closing level of the index is less than its starting value on any of three semiannual observation dates.
If the notes are not called, investors will be lose 1% for each 1% gain in the index.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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