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Bank of America to sell 0% Mitts linked to basket of three indexes
By Susanna Moon
Chicago, March 26 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due April 2015 based on a basket of three equally weighted indexes, according to an FWP filing with the Securities and Exchange Commission.
The underlying components are the S&P 500 index, the Dow Jones Euro Stoxx 50 index and the Nikkei 225 index.
The payout at maturity will be par of $10.00 plus any basket gain, up to a maximum of $16.00 to $17.00 per note. The exact cap will be set at pricing.
Investors will receive at least par.
The notes will price in April and settle in May.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the agents.
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