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Bank of America plans seven-year protected Mitts linked to Dow
By Angela McDaniels
Tacoma, Wash., Nov. 3 – Bank of America Corp. plans to price 0% Market Index Target-Term Securities due November 2021 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 the index return, subject to a maximum return of 50% to 60% and a minimum payout of par. The exact cap will be set at pricing.
BofA Merrill Lynch is the agent.
The notes will price in November and settle in December.
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