By Wendy Van Sickle
Columbus, Ohio, Sept. 23 – Bank of America Corp. priced $20 million of step-up callable notes due Sept. 20, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5% initially, stepping up to 2.6% on Sept. 24, 2021 and to 2.7% on Sept. 24, 2023. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Sept. 20, 2021, the notes will be callable at par quarterly.
BofA Securities Inc. is the underwriter.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
|
| Amount: | $20 million
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| Maturity: | Sept. 20, 2024
|
| Coupon: | 2.5% initially, stepping up to 2.6% on Sept. 24, 2021 and to 2.7% on Sept. 24, 2023; payable semiannually
|
| Price: | Par
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| Payout at maturity: | Par
|
| Call option: | At par quarterly beginning Sept. 20, 2021
|
| Pricing date: | Sept. 20
|
| Settlement date: | Sept. 24
|
| Underwriter: | BofA Securities Inc.
|
| Fees: | 0.3%
|
| Cusip: | 06048WD56
|
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