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Bank of America plans two-year capped leveraged notes linked to silver
By Susanna Moon
Chicago, June 2 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due July 2013 linked to the spot price of silver, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any gain in the price of silver, up to a maximum return of $12.80 to $13.20 per note. The exact cap will be set at pricing.
Investors will receive par if the price of silver falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
The notes will price in June and settle in July.
Bank of America Merrill Lynch is the agent.
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