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Bank of America plans 14-month Accelerated Return Notes tied to gold
By Susanna Moon
Chicago, Nov. 14 - Bank of America Corp. plans to price 0% Accelerated Return Notes due February 2013 linked to the spot price of gold, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the price of gold, up to a maximum return of $13.50 to $13.90 per note. The exact cap will be set at pricing.
Investors will lose 1% for every 1% price decline.
The notes will price and settle in November.
Bank of America Merrill Lynch is the agent.
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