New Issue: BofA prices $5 million putable floating-rate notes due 2058 on Libor

By Sarah Lizee

Olympia, Wash., April 23 – Bank of America Corp. priced $5 million of putable floating-rate notes due April 23, 2058, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be equal to Libor minus a spread of 30 basis points, subject to a minimum interest rate of 0%. Interest will be payable quarterly.

The payout at maturity will be par.

The notes are putable every two years beginning on April 23, 2020. The redemption price will be 98 from April 23, 2020 to April 22, 2030, 99 from April 23, 2032 to April 22, 2042 and par after that.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Putable floating-rate notes
Amount:	$5 million
Maturity:	April 23, 2058
Price:	Par
Payout at maturity:	Par
Coupon:	Libor minus 30 basis points, subject to 0% floor; payable quarterly
Put option:	Putable beginning April 23, 2020; redemption price will be 98 from April 23, 2020 to April 22, 2030, 99 from April 23, 2032 to April 22, 2042 and par after
Pricing date:	April 19
Settlement date:	April 23
Agent:	BofA Merrill Lynch
Fees:	1%
Cusip:	06048WWH9

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