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Bank of America plans market-linked step-up notes linked to Euro Stoxx
By Angela McDaniels
Tacoma, Wash., Jan. 22 - Bank of America Corp. plans to price 0% market-linked step-up notes due January 2017 linked to the Euro Stoxx 50 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than the step-up value, 116% of the initial index level, then the payout at maturity will be par of $10 plus 105% to 125% of the index return. The exact participation rate will be set at pricing.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus 16%.
Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.
BofA Merrill Lynch is the agent.
The notes are expected to price in January and settle in February.
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