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Bank of America plans 7%-9% callable yield notes on S&P 500, Russell
By Susanna Moon
Chicago, March 1 - Bank of America Corp. plans to price 7% to 9% callable yield notes due March 19, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly.
The notes are callable at par on any interest payment date.
The payout at maturity will be par unless either index falls to or below its knock-in level - 70% of its initial level - on any day during the life of the notes, in which case investors will receive par plus the return of the worse-performing component, up to a maximum payout of par.
Bank of America Merrill Lynch is the agent.
The notes will settle on March 19.
The Cusip number is 06048WKZ2.
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