By Wendy Van Sickle
Columbus, Ohio, May 17 – Bank of America Corp. priced $5 million of step-up callable notes due May 16, 2034, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3.75% initially, stepping up to 4% on May 16, 2022 and to 4.25% on May 16, 2023. Interest is payable semiannually.
The notes are callable in whole at par on any payment date starting May 16, 2022.
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: | May 16, 2034
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| Coupon: | 3.75% initially, stepping up to 4% on May 16, 2022 and to 4.25% on May 16, 2023; payable semiannually
|
| Price: | Par
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| Payout at maturity: | Par
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| Call option: | In whole at par on any payment date starting May 16, 2022
|
| Pricing date: | May 14
|
| Settlement date: | May 17
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.25%
|
| Cusip: | 06048WZQ6
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