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Bank of America plans five-year 0% Mitts tied to Dow Jones Industrials
By Marisa Wong
Madison, Wis., April 28 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due May 2016 based on the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 100% of any index gain, subject to a cap of 60% to 70% that will be set at pricing.
Investors will receive at least 90% of par.
The notes will price in May and settle in June.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the agent.
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