By Marisa Wong
Madison, Wis., Feb. 7 - Bank of America Corp. priced $43.5 million of step-down callable notes due Feb. 15, 2032, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 9% in the first year, 8% in the second year, 7% in the third year, 6% in years four through six and 5% in years seven 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-down callable notes
|
| Amount: | $43.5 million
|
| Maturity: | Feb. 15, 2032
|
| Coupon: | 9% in year one, 8% in year two, 7% in year three, 6% in years four through six and 5% in years seven through 20; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date after one year
|
| Pricing date: | Feb. 3
|
| Settlement date: | Feb. 15
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 4%
|
| Cusip: | 06048WKE9
|
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