By Andrea Heisinger
New York, May 28 - Bank of America Corp. priced $2.5 billion 7.625% 10-year notes Thursday to yield 410 basis points over Treasuries without the backing of the Federal Deposit Insurance Corp., according to an FWP filing with the Securities and Exchange Commission.
The notes were talked in the 410 bps area, a source said.
The notes (A2/A/A+) priced at 99.244 with a make-whole call at Treasuries plus 50 bps.
Banc of America Securities LLC was the bookrunner.
Senior co-managers were Fifth Third Securities Inc., Goldman Sachs & Co., Mizuho Securities USA Inc. and Wachovia Capital Markets LLC.
Junior co-managers were Cabrera Capital Markets LLC and Samuel A. Ramirez & Co.
The bank holding and financial services company is based in Charlotte, N.C.
| Issuer: | Bank of America Corp.
|
| Issue: | Non-FDIC notes
|
| Amount: | $2.5 billion
|
| Maturity: | June 1, 2019
|
| Bookrunner: | Banc of America Securities LLC
|
| Senior co-managers: | Fifth Third Securities Inc., Goldman Sachs & Co., Mizuho Securities USA Inc., Wachovia Capital Markets LLC
|
| Junior co-managers: | Cabrera Capital Markets LLC, Samuel A. Ramirez & Co.
|
| Coupon: | 7.625%
|
| Price: | 99.244
|
| Spread: | Treasuries plus 410 bps
|
| Call: | Make-whole at Treasuries plus 50 bps
|
| Trade date: | May 28
|
| Settlement date: | June 2
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A+
|
| Price talk: | 410 bps area
|
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