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Bank of America plans four-year step-up callables with 2%-4% coupon
By Susanna Moon
Chicago, Dec. 18 – Bank of America plans to price callable step-up fixed-rate notes due Dec. 27, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first two years, stepping up to 3% in December 2019 and to 4% in December 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any quarterly call date after one year.
BofA Merrill Lynch is the agent.
The notes will price and settle in December.
The Cusip number is 06048WVL1.
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