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Bank of America to price capped leveraged notes tied to three indexes
By Angela McDaniels
Tacoma, Wash., Aug. 25 - Bank of America Corp. plans to price two-year 0% Capped Leveraged Index Return Notes linked to a basket of three indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket includes the S&P 500 index with a 45% weight, the MSCI EAFE index with a 27.5% weight and the MSCI Emerging Markets index with a 27.5% weight.
The payout at maturity will be par of $10 plus double any basket gain, subject to a cap of 17% to 21% that will be set at pricing. Investors will receive par if the basket falls by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes will price in September or October.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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