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Bank of America plans Leveraged Index Return Notes on metals basket
By Marisa Wong
Madison, Wis., April 6 - Bank of America Corp. plans to price five-year 0% Leveraged Index Return Notes linked to an industrial metals basket, according to an FWP filing with the Securities and Exchange Commission.
The basket is comprised of equal weights of the spot prices of aluminum, copper, lead, nickel and zinc.
The payout at maturity will be par plus 185% to 195% of any basket gain. The exact rate will be set at pricing.
Investors will be exposed to any losses.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
The notes are expected to price and settle in April.
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