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BofA plans capped leverage return notes on ML eXtra WTI 4-Series
By Jennifer Chiou
New York, Sept. 7 - Bank of America Corp. plans to price two-year 0% Capped Leveraged Index Return Notes linked to the Merrill Lynch Commodity index eXtra WTI 4-Series Index-Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a cap of 37% to 41% that will be set at pricing. Investors will receive par if the index falls by 5% or less and will lose 1% for every 1% that it declines beyond 5%.
The notes will price and settle in September.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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