New Issue: BofA prices $14.58 million step-up callable notes with 3% initial rate

By Wendy Van Sickle

Columbus, Ohio, Dec. 27 – Bank of America Corp. priced $14.58 million of step-up callable notes due June 21, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3% initially, stepping up to 4% on Dec. 21, 2019 and to 5% on Dec. 21, 2020. Interest is payable semiannually.

The notes are callable in whole at par on each interest payment date beginning Dec. 21, 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:	$14,583,000
Maturity:	June 21, 2022
Coupon:	3% initially, stepping up to 4% on Dec. 21, 2019 and to 5% on Dec. 21, 2020; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	In whole at par semiannually beginning Dec. 21, 2019
Pricing date:	Dec. 21
Settlement date:	Dec. 26
Underwriter:	BofA Merrill Lynch
Fees:	0.388%
Cusip:	06048WYJ3

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