By Wendy Van Sickle
Columbus, Ohio, March 18 – Bank of America Corp. priced $5 million of step-up callable notes due Sept. 13, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 1.8% initially, stepping up to 1.9% on March 11, 2021 and to 2.25% on March 11, 2022. Interest is payable semiannually.
The payout at maturity will be par plus any interest due.
Beginning Sept. 11, the notes are callable semiannually at par plus any unpaid interest.
BofA Securities, Inc. is the agent.
Issuer: | Bank of America Corp.
|
Issue: | Step-up callable notes
|
Amount: | $5 million
|
Maturity: | Sept. 13, 2022
|
Coupon: | 1.8% initially, stepping up to 1.9% on March 11, 2021 and to 2.25% on March 11, 2022; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | Semiannually at par plus unpaid interest, beginning Sept. 11
|
Pricing date: | March 9
|
Settlement date: | March 11
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 0.2%
|
Cusip: | 06048WJ43
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.