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Bank of America plans Mitts linked to Dow Jones Industrial Average
By Toni Weeks
San Diego, March 24 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due April 2016 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain multiplied by a participation rate of 100% to 115%. The exact participation rate will be determined at pricing.
Investors will receive a minimum of 90% of par should the index fall.
The notes are expected to price in April and settle in May.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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