By Wendy Van Sickle
Columbus, Ohio, July 31 – Bank of America Corp. priced $20 million of step-up callable notes due July 31, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.625% initially, stepping up to 3% on Jan. 31, 2022. Interest is payable semiannually.
The notes are callable in whole at par on any interest payment date starting July 31, 2020.
The payout at maturity will be par plus any accrued interest.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
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| Amount: | $20 million
|
| Maturity: | July 31, 2024
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| Coupon: | 2.625% initially, stepping up to 3% on Jan. 31, 2022; payable semiannually
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| 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 July 31, 2020
|
| Pricing date: | July 29
|
| Settlement date: | July 31
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 0.2%
|
| Cusip: | 06048WA83
|
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