By Sarah Lizee
Olympia, Wash., Dec. 12 – Bank of America Corp. priced $5.05 million fixed-to-floating notes due Dec. 11, 2028 linked to the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 5.35% initially. Beginning Dec. 11, 2021, the rate will be equal to the 10-year swap rate. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Fixed-to-floating notes
|
| Underlying rates: | 10-year U.S. dollar ICE swap rate
|
| Amount: | $5.05 million
|
| Maturity: | Dec. 11, 2028
|
| Coupon: | 5.35% initially; beginning Dec. 11, 2021, equal to the 10-year swap rate, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 11
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06048WYQ7
|
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