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Bank of America plans Accelerated Return Notes on commodity index
By Marisa Wong
Madison, Wis., April 30 - Bank of America Corp. plans to price 0% Accelerated Return Notes due August 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 is par of $10.00 plus triple any gain in the index, up to a maximum return of 10% to 14% that will be set at pricing. Investors will be fully exposed to any index decline.
The notes are expected to price in May and settle in June.
BofA Merrill Lynch is the agent.
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