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Bank of America plans protected four-year Mitts linked to gold price
By Susanna Moon
Chicago, Oct. 31 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due December 2015 linked to the gold spot price, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any gain in the price of gold, up to a maximum return of 35% to 45%. The exact cap will be set at pricing.
If the price of gold falls, the payout will be par.
The notes will price and settle in November.
Bank of America Merrill Lynch is the agent.
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