By Wendy Van Sickle
Columbus, Ohio, March 30 – Bank of America Corp. priced $5.5 million of step-up callable notes due March 28, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 3% initially, stepping up to 4% on March 28, 2025 and to 5% on March 28, 2026. Interest is payable semiannually.
The payout at maturity will be par plus any interest due.
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: | $5.5 million
|
| Maturity: | March 28, 2027
|
| Coupon: | 3% initially, stepping up to 4% on March 28, 2025 and to 5% on March 28, 2026, payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Semiannually at par plus unpaid interest
|
| Pricing date: | March 24
|
| Settlement date: | March 28
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 0.6%
|
| Cusip: | 06048WU73
|
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