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Bank of America plans Accelerated Return Notes on precious metals index
By Angela McDaniels
Tacoma, Wash., April 1 - Bank of America Corp. plans to price 0% Accelerated Return Notes due July 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.
If the index return is positive, the payout at maturity will be par of $10 plus triple the index return, subject to a maximum return of 10% to 14% that will be set at pricing. If the index return is negative, investors will be fully exposed to the decline.
BofA Merrill Lynch is the agent.
The notes are expected to price in April and settle in May.
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