New Issue: BofA prices $77.37 million floating-rate notes tied to SOFR

By Wendy Van Sickle

Columbus, Ohio, Feb. 16 – Bank of America Corp. priced $77.37 million of floating-rate notes due Feb. 14, 2074, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be equal to SOFR plus 5 basis points. Interest will be payable monthly and cannot be less than 0%.

After two years, the notes will be putable annually on Feb. 14, starting at 97 in 2026, rising to 98 in 2029, to 99 in 2032 and to par in 2035.

The payout at maturity will be par.

BofA Securities, Inc. is the agent.

Issuer:	Bank of America Corp.
Issue:	Floating-rate notes
Underlying rate:	SOFR
Amount:	$77,366,000
Maturity:	Feb. 14, 2074
Coupon:	SOFR rate plus 5 bps, floor of 0%, payable monthly
Price:	Par
Payout at maturity:	Par
Put option:	After two years, annually on Feb. 14, starting at 97 in 2026, rising to 98 in 2029, to 99 in 2032 and to par in 2035
Pricing date:	Feb. 12
Settlement date:	Feb. 14
Agent:	BofA Securities, Inc.
Fees:	1%
Cusip:	06048W2R0

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