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Bank of America plans Leveraged Index Return Notes linked to Dow
By Angela McDaniels
Tacoma, Wash., Oct. 16 – Bank of America Corp. plans to price 0% Leveraged Index Return Notes due October 2021 linked to the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 110% to 130% of the index return. The exact upside participation rate will be set at pricing. Investors will receive par if the index falls by up to 30% and will lose 1% for every 1% that it declines beyond 30%.
BofA Merrill Lynch is the underwriter.
The notes will price in October and settle in November.
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