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Bank of America plans Capped Leveraged Index Return Notes linked to real estate index
By Wendy Van Sickle
Columbus, Ohio, March 29 – Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due April 2018 linked to the Dow Jones U.S. Real Estate index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus twice any index return, capped at 21% to 25%. The exact maximum will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in April and settle in May.
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