By Marisa Wong
Madison, Wis., Feb. 7 - Bank of America Corp. priced $3 million of step-up callable notes due Feb. 15, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5.75% for the first 10 years and will step up to 6% for years 11 through 17 and to 10% for years 18 through 20. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date after one year.
Bank of America Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
|
Issue: | Step-up callable notes
|
Amount: | $3 million
|
Maturity: | Feb. 15, 2032
|
Coupon: | Initially 5.75%, stepping up to 6% for years 11 through 17 and to 10% for years 18 through 20; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on any interest payment date beginning Feb. 15, 2013
|
Pricing date: | Feb. 3
|
Settlement date: | Feb. 15
|
Agent: | Bank of America Merrill Lynch
|
Fees: | 4.25%
|
Cusip: | 06048WKF6
|
© 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.