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Bank of America to price Accelerated Return Notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 14 – Bank of America Corp. plans to price 0% Accelerated Return Notes due September 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return that is expected to be 11% to 15% and will be set at pricing. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
The notes will price in July and settle in August.
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