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Bank of America plans 10-year floaters linked to CPI with no cap
By Susanna Moon
Chicago, Sept. 29 – Bank of America Corp. plans to price floating-rate notes due Oct. 9, 2024 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be set at the year-over-year change in the Consumer Price Index plus 120 basis points. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
Bank of America Merrill Lynch is the agent.
The notes will settle on Oct. 9.
The Cusip number is 06048WPT1.
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