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Bank of America plans Capped Leveraged Index Return Notes on S&P 500
By Toni Weeks
San Diego, Jan. 28 - Bank of America Corp. plans to price two-year Capped Leveraged Index Return Notes due February 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and exchange Commission.
The payout at maturity will be par of $10.00 plus double any gain in the index, up to a maximum payment of $11.40 to $11.80. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
Merrill Lynch & Co. is the agent.
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