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Bank of America to price Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 28 - Bank of America Corp. plans to price 0% Accelerated Return Notes due November 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return of 10% to 14% that will be set at pricing. If the index return is negative, investors will have 1-to-1 downside exposure to the decline.
The notes are expected to price in September and settle in October.
BofA Merrill Lynch is the underwriter.
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