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Bank of America plans to price capped leveraged notes linked to silver
By Angela McDaniels
Tacoma, Wash., Nov. 2 - Bank of America Corp. plans to price two-year 0% Capped Leveraged Index Return Notes linked to the price of silver, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any increase in the silver spot price, subject to a maximum return of 37% to 41% that will be set at pricing. Investors will receive par if the spot price declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes will price in November or December.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
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