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Bank of America plans Accelerated Return Notes linked to S&P 500
By Susanna Moon
Chicago, Oct. 2 - Bank of America Corp. plans to price 0% Accelerated Return Notes due October 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any gain in the index, up to a maximum payment of $12.00 to $12.40 per note. The exact cap will be set at pricing.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes are expected to price in October and settle in November.
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