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Bank of America plans bear Accelerated Return Notes on Hang Seng China
By Susanna Moon
Chicago, Nov. 1 - Bank of America Corp. plans to price 0% bear Accelerated Return Notes due January 2013 linked to the Hang Seng China Enterprises index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple the absolute value of any index decline, up to a maximum return of $11.90 to $12.30 per note. The exact cap will be set at pricing.
Investors will lose 1% for every 1% index gain.
The notes will price and settle in November.
Bank of America Merrill Lynch is the agent.
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