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Bank of America to sell Capped Leveraged Index Return Notes on gold
By Jennifer Chiou
New York, Jan. 26 - Bank of America Corp. plans to price 0% Capped Leveraged Index Return Notes due March 2014 linked to the gold spot price, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 200% of any gain in the gold spot price, subject to a maximum return of 28% to 32%. The exact participation rate will be determined at pricing.
Investors will receive par if the gold spot price falls by up to 10% and will be exposed to any losses beyond 10%.
The notes will price in February and settle in March.
Bank of America Merrill Lynch is the agent.
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