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Bank of America plans market-tied step-up notes on Euro Stoxx, MSCI EM
By Susanna Moon
Chicago, 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, each with a 50% weight.
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 any index gain.
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 if the basket falls by up to 15% and will be fully exposed to any losses if the basket finishes below the 85% trigger level.
BofA Merrill Lynch is the agent.
The notes will price and settle in December.
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