Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
Bank of America plans 20-year callable step-up notes with 3% start rate
By Susanna Moon
Chicago, Sept. 27 – Bank of America Corp. plans to price callable step-up rate notes due Sept. 28, 2036, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3% for the first eight years, stepping up to 3.5% for years nine to 13, to 4% for years 14 to 17, to 6% for years 18 to 19 and to 7% for year 20. Interest is payable quarterly.
The notes are callable on any semiannual observation date beginning Sept. 28, 2020.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
The notes will settle on Sept. 28.
The Cusip number is 06048WTN0.
© 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.