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Bank of America plans six-year protected Mitts on Dow-UBS Commodity
By Susanna Moon
Chicago, March 3 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due April 2020 linked to 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 any gain in the index, up to a maximum return of 50% to 60%. The exact cap will be set at pricing.
If the index falls, investors will receive par.
BofA Merrill Lynch is the agent.
The notes will price in March and settle in April.
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