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Bank of America to price market-linked step-up notes on Euro Stoxx 50
By Wendy Van Sickle
Columbus, Ohio, March 10 – Bank of America plans to price 0% market-linked step up notes due May 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the initial level, the payout at maturity will be par of $10 plus the greater of the step-up payment and the index return. The step-up payment is expected to be 12% to 16% and will be set at pricing.
Investors will be exposed to any index decline.
Merrill Lynch & Co. is the agent.
The notes will price and settle in March.
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