Bank of America plans step-up notes on Dow Jones Global Titans 50

By Toni Weeks

San Diego, Oct. 31 - Bank of America Corp. plans to price 0% market-linked step-up notes due November 2013 linked to the Dow Jones Global Titans 50 index, according to an FWP with the Securities and Exchange Commission.

If the index finishes above the step-up value - 126% to 132% of the initial level - the payout at maturity will be par of $10 plus the index return.

If the index finishes at or above the initial level but is less than or equal to the step-up value, the payout at maturity will be par of $10 plus the step-up payment of 26% to 32%.

Investors will be fully exposed to losses if the index declines.

The notes are expected to price and settle in November.

Bank of America Merrill Lynch is the agent.

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