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Bank of America plans Accelerated Return Notes on commodity index
By Jennifer Chiou
New York, May 31 - Bank of America Corp. plans to price 0% Accelerated Return Notes due June 2015 linked to the Merrill Lynch Commodity index eXtra-Excess Return, according to an FWP with the Securities and Exchange Commission.
The payout at maturity is par of $10.00 plus triple any gain in the index, up to a maximum return of 11% to 15% that will be set at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price in June and settle in July.
BofA Merrill Lynch is the agent.
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