Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
Bank of America plans step-up callable notes with 5.5% initial rate
By Jennifer Chiou
New York, March 3 - Bank of America Corp. plans to price step-up callable notes due March 29, 2041, according to a 424B2 filing with the Securities and Exchange Commission.
The interest will be 5.5% for the first 10 years, stepping up to 6% in years 11 through 20 and 7.75% in years 21 through 30. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning on March 29, 2016, the notes will be callable at par on any interest payment date.
The notes (Cusip: 06048WFQ8) will settle on March 29.
Merrill Lynch, Pierce, Fenner & Smith Inc. is the underwriter.
© 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.