New Issue: Bank of America prices $75 million step-up callable notes with 2.25% initial rate

By Kiku Steinfeld

Chicago, Dec. 27 – Bank of America Corp. priced $75 million of step-up callable notes due Dec. 13, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.25% % initially, stepping-up to 2.4% on Dec. 13, 2022 and to 3% on Dec. 13, 2023. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par semiannually plus any unpaid interest.

BofA Securities Inc. is the agent.

Issuer:	Bank of America Corp.
Issue:	Step-up callable notes
Amount:	$75,000,000
Maturity:	Dec. 13, 2024
Coupon:	2.25% initially, stepping-up to 2.4% on Dec. 13, 2022 and to 3% on Dec. 13, 2023; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par semiannually plus any unpaid interest
Pricing date:	Dec. 11
Settlement date:	Dec. 13
Agent:	BofA Securities Inc.
Fees:	0.4%
Cusip:	06048WF62

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