By Angela McDaniels
Tacoma, Wash., Nov. 10 – Bank of America Corp. priced $5 million of step-up callable notes due Nov. 6, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1% in year one, 1.75% in year two and 2.75% in year three. Interest is payable quarterly.
The payout at maturity will be par.
Beginning May 6, 2016, the notes will be callable at par on any interest payment date.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
|
| Amount: | $5 million
|
| Maturity: | Nov. 6, 2018
|
| Coupon: | 1% in year one, 1.75% in year two and 2.75% in year three; payable quarterly
|
| Price: | Varying prices
|
| Payout at maturity: | Par
|
| Call option: | Beginning May 6, 2016, notes will be callable at par on any interest payment date
|
| Pricing date: | Nov. 4
|
| Settlement date: | Nov. 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | Underwriter paid par
|
| Cusip: | 06048WRY8
|
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