| 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 |
BofA plans fixed-to-floaters due 2028 tied to 10-year ICE swap rate
By Sarah Lizee
Olympia, Wash., May 8 – Bank of America Corp. plans to price priced fixed- to floating-rate notes due May 18, 2028 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 4.9% for the first three years. Beginning on May 18, 2021, interest will be equal to the 10-year U.S. dollar ICE swap rate. Interest will be payable quarterly and cannot be less than zero.
The notes are noncallable.
The payout at maturity will be par.
BofA Merrill Lynch is the agent.
The notes will price on May 16 and settle on May 18.
The Cusip number is 06048WWL0.
© 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.