By Sarah Lizee
Olympia, Wash., Sept. 26 – Bank of America Corp. priced $12 million of fixed- to floating-rate notes due Sept. 26, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 2.82% for the first year. Beginning on Sept. 26, 2019, interest will be equal to Libor plus 50 basis points, subject to a maximum rate of 4% and a minimum rate of 2%. Interest will be payable quarterly.
The notes are noncallable.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Fixed- to floating-rate notes
|
| Amount: | $12 million
|
| Maturity: | Sept. 26, 2021
|
| Coupon: | 2.82% for the first year; beginning on Sept. 26, 2019, equal to Libor plus 50 bps, subject to a cap of 4% and a floor of 2%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Noncallable
|
| Pricing date: | Sept. 21
|
| Settlement date: | Sept. 26
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 0.25%
|
| Cusip: | 06048WXT2
|
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