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Bank of America plans Mitts linked to Dow Jones industrial average
By Marisa Wong
Madison, Wis., Feb. 24 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due April 2018 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
If the final level of the index is greater than the initial index level, the payout at maturity will be par plus the index return, capped at 60% to 70%.
If the final index level is less than the initial level, the payout will be par.
The notes are expected to price in March and settle in April.
Bank of America Merrill Lynch is the underwriter.
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