By Susanna Moon
Chicago, May 4 – Bank of America Corp. priced $5.59 million of fixed-to-floating notes due April 30, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 3.25% for the first two years. After that, it will be the 10-year CMS rate. Interest is payable quarterly.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Fixed-to-floating notes
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| Underlyings: | 10-year Constant Maturity Swap rate
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| Amount: | $5.59 million
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| Maturity: | April 30, 2025
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| Coupon: | 3.25% initially; beginning April 30, 2017, equal to 10-year CMS rate; payable quarterly
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| Price: | Variable
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| Payout at maturity: | Par
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| Pricing date: | April 28
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| Settlement date: | April 30
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| Agent: | BofA Merrill Lynch
|
| Fees: | 0.96%
|
| Cusip: | 06048WQS2
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