By Angela McDaniels
Tacoma, Wash., June 27 – Bank of America Corp. priced $10 million of step-up callable notes due June 28, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.65% in years one through four, 3% in years five through seven, 4% in years eight and nine and 5.5% in year 10. Interest is payable semiannually.
The payout at maturity will be par.
Beginning June 28, 2017, the notes will be callable at par on any interest payment date.
BofA Merrill Lynch is the underwriter.
Issuer: | Bank of America Corp.
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Issue: | Step-up callable notes
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Amount: | $10 million
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Maturity: | June 28, 2026
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Coupon: | 2.65% in years one through four, 3% in years five through seven, 4% in years eight and nine and 5.5% in year 10; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | Beginning June 28, 2017, notes will be callable at par on any interest payment date
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Pricing date: | June 23
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Settlement date: | June 28
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Underwriter: | BofA Merrill Lynch
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Fees: | 1.25%
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Cusip: | 06048WSV3
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