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Bank of America plans five-year 0% Mitts on Dow Jones-UBS Commodity
By Marisa Wong
Madison, Wis., April 28 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due June 2016 based on the Dow Jones UBS Commodity Index - Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 100% of any index gain, subject to a cap of 45% to 55% that will be set at pricing.
Investors will receive at least par.
The notes will price in May and settle in June.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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