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Bank of America to price Accelerated Return Notes linked to gold
By Angela McDaniels
Tacoma, Wash., Aug. 30 - Bank of America Corp. plans to price 0% Accelerated Return Notes due December 2014 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.
If the commodity return is positive, the payout at maturity will be par of $10 plus 300% of the commodity return, subject to a maximum return of 12% to 16% that will be set at pricing. If the commodity return is negative, investors will have 1-to-1 exposure to the decline.
BofA Merrill Lynch is the agent.
The notes will price in September and settle in October.
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