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Bank of America plans 6%-7% coupon bearing autocallables on Honeywell
By Susanna Moon
Chicago, July 20 – Bank of America Corp. plans to price 6% to 7% autocallable coupon bearing notes due August 2016 linked to Honeywell International Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly, with the exact rate to be set at pricing.
The payout at maturity will be par of $10 unless Honeywell shares finish below the initial level, in which case investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes will price in July and settle in August.
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