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Bank of America to price Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., March 1 – Bank of America Corp. plans to price 0% Accelerated Return Notes due May 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 300% of the index return, subject to a maximum return that is expected to be 11% to 15% and will be set at pricing. Investors will lose 1% for every 1% decline in the index.
BofA Merrill Lynch is the agent.
The notes are expected to price and settle in March.
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