By Sarah Lizee
Olympia, Wash., Feb. 28 – Bank of America Corp. priced $50 million of step-up callable notes due Feb. 28, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.05% initially, stepping up to 3% on Feb. 28, 2024. Interest is payable semiannually.
The payout at maturity will be par plus any interest due.
Starting Aug. 28, the notes are callable semiannually at par plus any unpaid interest.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Step-up callable notes
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| Amount: | $50 million
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| Maturity: | Feb. 28, 2025
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| Coupon: | 2.05% initially, stepping up to 3% on Feb. 28, 2024; payable semiannually
|
| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Starting Aug. 28, semiannually at par plus unpaid interest
|
| Pricing date: | Feb. 26
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| Settlement date: | Feb. 28
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 0.4%
|
| Cusip: | 06048WH94
|
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