By Andrea Heisinger
New York, Oct. 4 - Bank of America Corp. sold $1.75 billion of 1.5% three-year notes on Thursday at a spread of 120 basis points over Treasuries, a source away from the trade said.
The notes (Baa2/A-/A) were sold at 99.95 to yield 1.517%. There is no call option.
Bank of America Merrill Lynch was the bookrunner.
The Charlotte, N.C.-based financial services company was last in the bond market with a $1.25 billion sale of five-year notes on March 19, 2012.
| Issuer: | Bank of America Corp.
|
| Issue: | Notes
|
| Amount: | $1.75 billion
|
| Maturity: | Oct. 19, 2015
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Coupon: | 1.5%
|
| Price: | 99.95
|
| Yield: | 1.517%
|
| Spread: | Treasuries plus 120 bps
|
| Call: | Non-callable
|
| Trade date: | Oct. 4
|
| Settlement date: | Oct. 10
|
| Ratings: | Moody's: Baa2
|
| Standard & Poor's: A-
|
| Fitch: A
|
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