By Wendy Van Sickle
Columbus, Ohio, June 20 – Bank of America Corp. priced $5 million of step-up callable notes due June 19, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.75% per year to but excluding Dec. 19, 2021, when the interest rate will step up to 3.25% until maturity. Interest is payable semiannually.
The payout at maturity will be par.
Beginning June 19, 2020, the notes will be callable at par on any interest payment date.
BofA Securities Inc.is the underwriter.
| 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: | June 19, 2024
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| Coupon: | 2.75% per year to but excluding Dec. 19, 2021, 3.25% thereafter; payable semiannually
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| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | Beginning June 19, 2020, notes will be callable at par on any interest payment date
|
| Pricing date: | June 17
|
| Settlement date: | June 19
|
| Underwriter: | BofA Securities Inc.
|
| Fees: | 0.3%
|
| Cusip: | 06048WA26
|
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