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Bank of America plans market-linked step-up notes on index basket
By Jennifer Chiou
New York, Dec. 12 - Bank of America Corp. plans to price market-linked step-up notes due December 2017 tied to a basket of indexes, according to an FWP with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index and the MSCI Emerging Markets index, equally weighted.
If the basket finishes at or above the step-up value - 112% to 118% of the initial level - the payout at maturity will be par plus the return.
If the basket finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 12% to 18%.
Investors will receive par for losses up to 15% and will share in losses beyond 15%.
BofA Merrill Lynch is the agent.
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