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Bank of America plans 8% coupon-bearing notes linked to Whole Foods
By Jennifer Chiou
New York, Feb. 24 - Bank of America Corp. plans to price 8% coupon-bearing notes due March 2012 linked to the common stock of Whole Foods Market, Inc., according to an FWP with the Securities and Exchange Commission.
Interest will be payable quarterly.
If the final price is greater than or equal to the threshold value, 92% to 96% of the initial price, the payout at maturity will be par of $10. Otherwise, investors will share in any losses beyond the to-be-set threshold price.
The notes are expected to price and settle in March.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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