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BofA to price step-up callable notes due 2026 with 3% initial rate
By Sarah Lizee
Olympia, Wash., Jan. 24 – Bank of America Corp. plans to price step-up callable notes due Jan. 30, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for the first four years, stepping up to 4% on Jan. 30, 2022. Interest will be payable semiannually.
The notes are callable in whole at par on each interest payment date beginning on Jan. 30, 2019.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
The notes will price on Jan. 26 and settle on Jan. 30.
The Cusip number is 06048WVP2.
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