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Bank of America plans Capped Leveraged Index Return Notes tied to gold
By Angela McDaniels
Tacoma, Wash., May 27 - Bank of America Corp. plans to price two-year 0% Capped Leveraged Index Return Notes linked to the gold spot price, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any increase in the gold spot price, subject to a maximum return of 21% to 25% that will be set at pricing. Investors will receive par if the price falls by 5% or less and will lose 1% for every 1% that it declines beyond 5%.
The notes are expected to price in June and settle in July.
Bank of America Merrill Lynch is the underwriter.
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