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Bank of America to sell Mitts due 2015 on gold spot price via Merrill
By E. Janene Geiss
Philadelphia, Oct. 28 - Bank of America Corp. plans to price 0% five-year Market Index Target-Term Securities linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any increase in the price of gold, subject to a maximum return of 40% to 50%. The exact cap will be set at pricing. Investors will receive at least par.
The notes are expected to price in November and settle in December.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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