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BofA to price floating-rate notes due 2028 linked to ICE swap rates
By Sarah Lizee
Olympia, Wash., June 11 – BofA Finance LLC plans to price floating-rate notes due June 30, 2028 linked to the best performing of the two-year U.S. dollar ICE swap rate, the 10-year U.S. dollar ICE swap rate and the 30-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to the highest of the three swap rates, subject to a minimum interest rate of 0%. Interest is payable quarterly.
The payout at maturity will be par.
The notes are non-callable.
The notes will be guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
The notes are expected to price on June 26 and settle on June 30.
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