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Bank of America plans Accelerated Return Notes on precious metals index
By Angela McDaniels
Tacoma, Wash., Feb. 21 - Bank of America Corp. plans to price 0% Accelerated Return Notes due June 2014 linked to the Merrill Lynch Commodity Index eXtra Precious Metals Plus - Excess Return, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return of 12% to 16% that will be set at pricing. Investors will be fully exposed to any index decline.
BofA Merrill Lynch is the agent.
The notes are expected to price in March and settle in April.
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