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BofA to price capped leveraged notes on S&P BRIC 40 via Merrill
By Jennifer Chiou
New York, Jan. 29 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due February 2012 linked to the S&P BRIC 40 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any gain in the index, up to a maximum return of $12.60 to $13.00 per note. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The notes will price in February and settle in March.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the agents.
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