New Issue: BofA prices $5 million step-up callable notes with 5.1% start rate

By Wendy Van Sickle

Columbus, Ohio, June 5 – Bank of America Corp. priced $5 million of step-up callable notes due May 8, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 5.1% for the first two years. It will step up to 5.5% on May 8, 2025 and to 6% on May 8, 2028. Interest will be paid semiannually.

The notes will be callable at par after one year.

The payout at maturity will be par.

BofA Securities, Inc. is the agent.

Issuer:	Bank of America Corp.
Issue:	Step-up callable notes
Amount:	$5 million
Maturity:	May 8, 2030
Coupon:	5.1% initially, stepping up to 5.5% on May 8, 2025 and to 6% on May 8, 2028; paid semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any semiannual review date beginning May 8, 2024
Pricing date:	May 4
Settlement date:	May 8
Agent:	BofA Securities, Inc.
Fees:	0.85%
Cusip:	06055JBA6

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