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Bank of America to price capped leveraged notes linked to copper
By Angela McDaniels
Tacoma, Wash., March 24 - Bank of America Corp. plans to price 0% two-year Capped Leveraged Index Return Notes linked to copper, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 200% of any increase in the price of copper, subject to a maximum return of 26% to 30% that will be set at pricing. Investors will receive par if copper declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes will price in April or May.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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