By Sarah Lizee
Olympia, Wash., March 27 – Bank of America Corp. priced $1 million of fixed-to-floating notes due March 27, 2028 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3.5% initially. Beginning March 27, 2019, interest will be equal to the year-over-year change in the index plus 100 basis points. Interest will be payable monthly and cannot be less than zero.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
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| Issue: | Fixed-to-floating notes
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| Underlying index: | Consumer Price index
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| Amount: | $1 million
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| Maturity: | March 27, 2028
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| Coupon: | 3.5% initially; beginning March 27, 2019, equal to the year-over-year change in index plus 100 bps, subject to a floor of 0%; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par
|
| Pricing date: | March 23
|
| Settlement date: | March 27
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 06048WWA4
|
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