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Bank of America plans Accelerated Return Notes linked to Russell 2000
By Marisa Wong
Milwaukee, April 30 - Bank of America Corp. plans to price 14-month 0% Accelerated Return Notes linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 16% to 20%. The exact cap will be set at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price in May and settle in June.
Merrill Lynch, Pierce, Fenner & Smith Inc. and First Republic Securities Co., LLC are the underwriters.
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