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Bank of America to price buffered Steeples linked to Nasdaq 100
By Jennifer Chiou
New York, Aug. 21 - Bank of America Corp. plans to price 0% buffered Strategic Equity Exposure Performance Linked Securities due Sept. 27, 2010 linked to the Nasdaq 100 index, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any index gain, subject to a maximum return that is expected to be 18% to 22% and will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for each 1% decline beyond 10%.
The notes will price and settle in September.
Banc of America Securities LLC and Banc of America Investment Services, Inc. will be the agents.
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