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Bank of America plans Leveraged Index Return Notes on gold index
By Toni Weeks
San Luis Obispo, Calif., June 11 - Bank of America Corp. plans to price Capped Leveraged Index Return Notes due June 2015 linked to the NYSE Arca Gold Miners index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10.00 plus 300% of any gain in the index, subject to a maximum return of 40% to 44%. The exact maximum return will be determined at pricing.
Investors will receive par if the index falls by up to 5% and will be exposed to any losses beyond 5%.
The final index value will be the average of the closing levels on five scheduled calculation days shortly before maturity.
The notes are expected to price in June and settle in July.
BofA Merrill Lynch is the agent.
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