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Bank of America plans five-year Mitts linked to gold spot price
By Toni Weeks
San Diego, Aug. 2 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due September 2016 linked to the gold spot price, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any increase in the price of gold, subject to a cap of 35% to 45%. The exact cap will be set at pricing.
Investors will receive a minimum of par should the price of gold fall.
The notes are expected to price and settle in September.
Bank of America Merrill Lynch is the agent.
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