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Bank of America plans accelerated return notes linked to financial stocks
By Susanna Moon
Chicago, Jan. 25 - Bank of America Corp. plans to price 0% Accelerated Return Notes due April 2014 linked to three equally weighted financial sector stocks, according to an FWP with the Securities and Exchange Commission.
The underlying companies are Citigroup Inc., JPMorgan Chase & Co. and Goldman Sachs Group, Inc.
The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum return of 18% to 22%.
Investors will be fully exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes will price and settle in February.
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