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Bank of America plans 13-month Stars with 100% threshold on crude oil
By Susanna Moon
Chicago, March 12 - Bank of America Corp. plans to price 0% Strategic Accelerated Redemption Securities due April 2013 linked to the crude oil futures contract, according to an FWP filing with the Securities and Exchange Commission.
The notes will be called at a premium of 15% to 19% if the futures contract price closes at or above the initial price on the observation date in April 2013.
If the notes are not called, the payout will be par plus the return with exposure to any losses.
Bank of America Merrill Lynch is the underwriter.
The notes will price and settle in March.
The exact deal terms will be set at pricing.
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