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Bank of America plans 14-month Accelerated Return Notes tied to S&P 500
By Susanna Moon
Chicago, Aug. 10 – Bank of America Corp. plans to price 0% Accelerated Return Notes due October 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 of 11% to 15%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price in August and settle in September.
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