New Issue: BofA prices $6 million step-up callable notes with 4% initial rate

By Sarah Lizee

Olympia, Wash., June 27 – Bank of America Corp. priced $6 million of step-up callable notes due June 26, 2030, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 4% initially, stepping up to 4.5% on June 26, 2023, to 5% on June 26, 2027, to 6% on June 26, 2028 and to 6.5% on June 26, 2029. Interest is payable semiannually.

The notes are callable in whole at par on each interest payment date beginning on June 26, 2021.

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:	$6 million
Maturity:	June 26, 2030
Coupon:	4% initially, stepping up to 4.5% on June 26, 2023, to 5% on June 26, 2027, to 6% on June 26, 2028 and to 6.5% on June 26, 2029; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	In whole at par semiannually beginning on June 26, 2021
Pricing date:	June 22
Settlement date:	June 26
Underwriter:	BofA Merrill Lynch
Fees:	1.76%
Cusip:	06048WWV8

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