By Sarah Lizee
Olympia, Wash., Aug. 1 – Bank of America Corp. priced $2.5 million of step-up callable notes due July 31, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4% initially, stepping up to 4.5% on July 31, 2023 and to 5% on July 31, 2027. Interest is payable semiannually.
The notes are callable in whole at par on each interest payment date beginning on Jan. 31, 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: | $2.5 million
|
| Maturity: | July 31, 2028
|
| Coupon: | 4% initially, stepping up to 4.5% on July 31, 2023 and to 5% on July 31, 2027; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | In whole at par semiannually beginning Jan. 31, 2019
|
| Pricing date: | July 27
|
| Settlement date: | July 31
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06048WXC9
|
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