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Bank of America plans Accelerated Return Notes tied to commodity index
By Susanna Moon
Chicago, Aug. 3 – Bank of America Corp. plans to price 0% Accelerated Return Notes due October 2016 linked to the Merrill Lynch Commodity index eXtra Precious Metals Plus – Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 300% of any index gain, up to a maximum return or 11% to 15%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
The notes will price and settle in August.
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