BofA to price 4.65% fixed-to-floaters linked to 10-year ICE swap rate

By Sarah Lizee

Olympia, Wash., Jan. 19 – Bank of America Corp. plans to price priced fixed- to floating-rate notes due Jan. 30, 2028 linked to the 10-year U.S. Dollar ICE Swap Rate, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be fixed at 4.65% for the first two years. Beginning on Jan. 30, 2020, the notes will be equal to the 10-year U.S. dollar ICE swap rate. Interest will be payable quarterly and cannot be less than zero.

The notes are noncallable.

The payout at maturity will be par.

Merrill Lynch Capital Services, Inc. is the agent.

The notes will price on Jan. 24 and settle on Jan. 30.

The Cusip number is 06048WVM9.

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