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Bank of America plans 8%-9% coupon bearing autocallables on NIKE
By Marisa Wong
Morgantown, W.Va., April 5 – Bank of America Corp. plans to price 8% to 9% autocallable coupon bearing notes due May 2017 linked to NIKE Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly, with the exact rate to be set at pricing.
The payout at maturity will be par of $10 unless NIKE shares finish below the initial level, in which case investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in April.
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