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 to price step-up callable notes due 2030 with 4% initial rate
By Sarah Lizee
Olympia, Wash., May 25 – Bank of America Corp. plans to price step-up callable notes due June 1, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 4.1% on June 1, 2019, to 4.2% on June 1, 2020, to 4.3% on June 1, 2021, to 4.4% on June 1, 2022, to 4.5% on June 1, 2023, to 4.6% on June 1, 2024, to 4.7% on June 1, 2025, to 4.8% on June 1, 2026, to 4.9% on June 1, 2027, to 5% on June 1, 2028 and to 5.1% on June 1, 2029. Interest is payable semiannually.
The notes are callable in whole at par on each interest payment date beginning on June 1, 2021.
The payout at maturity will be par plus any accrued interest.
BofA Merrill Lynch is the agent.
The notes will price on May 30 and settle on June 1.
The Cusip number is 06048WWR7.
© 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.