New Issue: Bank of America prices $8.16 million step-up callable notes with 3.16% initial rate

By Wendy Van Sickle

Columbus, Ohio, March 17 – Bank of America priced $8.16 million of step-up callable notes due March 17, 2031, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be at least 3.16% in years one through five, stepping up to 3.91% in years six through 10, to 4.66% in years 11 through 13 and to 5.66% in years 14 and 15. Interest will be payable semiannually.

The payout at maturity will be par of $1,000.

Beginning March 17, 2017, the notes will be callable, in whole but not in part, at par on any interest payment date.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Step-up callable notes
Amount:	$8,164,000
Maturity:	March 17, 2031
Coupon:	3.16% in years one through five, 3.91% in years six through 10, 4.66% in years 11 through 13, 5.66% in years 14 and 15; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	Beginning March 17, 2017, notes will be callable at par on any interest payment date
Settlement date:	March 17
Agent:	BofA Merrill Lynch
Fees:	1.75%
Cusip:	06048WSK7

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