By Sarah Lizee
Olympia, Wash., July 26 – Bank of America Corp. priced $5 million of step-up callable notes due July 26, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.95% initially and step up to 3.45% on July 26, 2019. Interest is payable semiannually.
The notes are callable in whole at par on each interest payment date beginning on July 26, 2019.
The payout at maturity will be par plus any accrued interest.
BofA Merrill Lynch is the agent.
Issuer: | Bank of America Corp.
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Issue: | Step-up callable notes
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Amount: | $5 million
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Maturity: | July 26, 2020
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Coupon: | 2.95% initially, stepping up to 3.45% on July 26, 2019; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | In whole at par semiannually beginning on July 26, 2019
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Pricing date: | July 24
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Settlement date: | July 26
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Underwriter: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 06048WXA3
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