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BofA to price step-up callable notes due 2033 with 4% initial rate
By Sarah Lizee
Olympia, Wash., March 1 – Bank of America Corp. plans to price step-up callable notes due March 28, 2033, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 4.5% on March 28, 2028 and to 5.5% on March 28, 2031. Interest will be payable semiannually.
The notes are callable in whole at par on each interest payment date beginning on March 28, 2021.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
The notes will price on March 26 and settle on March 28.
The Cusip number is 06048WVY3.
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