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Bank of America plans six-year 90% protected Mitts linked to the Dow
By Susanna Moon
Chicago, July 27 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due August 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 $14.50 to $15.50 per note. The exact cap will be set at pricing.
If the index falls, investors will be exposed to losses of up to 10%.
Bank of America Merrill Lynch will be the agent.
The notes are will price in August and settle in September.
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