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Bank of America plans two-year Accelerated Return Notes on S&P 500
By Marisa Wong
Madison, Wis., Oct. 2 - Bank of America Corp. plans to price 0% Accelerated Return Notes due October 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the index, up to a maximum return of 18% to 22%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
Bank of America Merrill Lynch is the agent.
The notes are expected to price in October and settle in November.
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