New Issue: BofA prices $4.98 million step-up callable notes with 2.5% start rate

By Sarah Lizee

Olympia, Wash., May 29 – Bank of America Corp. priced $4.98 million of step-up callable notes due Nov. 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2.5% initially and step up to 4% on Nov. 30, 2019. Interest is payable semiannually.

The notes are callable in whole at par on each interest payment date beginning on Nov. 30, 2019.

The payout at maturity will be par plus any accrued interest.

BofA Merrill Lynch is the agent.

Issuer:	Bank of America Corp.
Issue:	Step-up callable notes
Amount:	$4,984,000
Maturity:	Nov. 30, 2021
Coupon:	2.5% initially, stepping up to 4% on Nov. 30, 2019; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	In whole at par semiannually beginning on Nov. 30, 2019
Pricing date:	May 24
Settlement date:	May 30
Underwriter:	BofA Merrill Lynch
Fees:	0.658%
Cusip:	06048WWP1

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