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Bank of America plans Mitts linked to Dow Jones Industrial Average
By Jennifer Chiou
New York, Sept. 12 - Bank of America Corp. plans to price 0% Market Index Target-Term Securities due September 2017 linked to the Dow Jones Industrial Average, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus any index gain, capped at 70% to 80%. The exact cap will be set at pricing.
Investors will receive at least par.
The notes are expected to price in September and settle in October.
Bank of America Merrill Lynch is the agent.
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