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Bank of America plans six-year 90%-protected Mitts linked to the Dow
By Susanna Moon
Chicago, April 26 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due May 2019 linked to the Dow Jones industrial average, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any gain in the index, up to a maximum return of 40% to 50%. The exact cap will be set at pricing.
If the index falls, investors will share in up to 10% of losses.
BofA Merrill Lynch is the agent.
The notes will price in May and settle in June.
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