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Bank of America plans seven-year protected Mitts linked to the Dow
By Wendy Van Sickle
Columbus, Ohio, Oct. 13 – Bank of America Corp. plans to price 0% Market Index Target-Term Securities due October 2022 linked to the Dow Jones industrial average, according to a 424B2 filed with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, up to a maximum return of 60% to 70%. The exact cap will be set at pricing.
If the index falls, the payout will be par.
BofA Merrill Lynch is the agent.
The notes will price and settle in October.
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