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Bank of America plans Capped Leveraged Index Return Notes on indexes
By Marisa Wong
Madison, Wis., Nov. 30 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due January 2015 tied to a global equity basket, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
If the basket return is positive, the payout at maturity will be par plus 200% of the basket return, subject to a maximum return of 15% to 19%. The exact cap will be set at pricing.
Investors will receive par if the basket falls by up to 10% and will lose 1% for every 1% decline in the basket beyond 10%.
Bank of America Merrill Lynch will be the underwriter.
The notes are expected to price and settle in January.
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