BofA plans to price capped floating-rate notes due 2028 tied to Libor

By Sarah Lizee

Olympia, Wash., April 20 – Bank of America Corp. plans to price capped floating-rate notes due April 27, 2028, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be equal to Libor plus 100 basis points, subject to a cap of at least 4.5% per year. Interest will be payable quarterly and cannot be less than zero.

The payout at maturity will be par.

The notes are non-callable.

BofA Merrill Lynch is the agent.

The notes will price on April 25 and settle on April 27.

The Cusip number is 06048WWN6.

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