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Bank of America to price six-year protected Mitts linked to the Dow
By Susanna Moon
Chicago, April 27 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due May 2018 linked to the Dow Jones industrial average, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any gain in the index, up to a maximum return of $16.00 to $17.00 per note. The exact cap will be set at pricing.
If the index falls, the payout will be par.
Bank of America Merrill Lynch will be the agent.
The notes are expected to price in May and settle in June.
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