Published on 6/22/2023 in the Prospect News Structured Products Daily.
New Issue: Bank of America prices $5.5 million floating-rate notes due 2032 on SOFR ICE swap rate
By Wendy Van Sickle
Columbus, Ohio, June 22 – Bank of America Corp. priced $5.5 million of floating-rate notes due June 8, 2026 linked to the one-year U.S. dollar SOFR ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be equal to the swap rate plus 85 basis points, subject to a floor of 0% per annum. Interest will be payable monthly.
BofA Securities, Inc. is the underwriter.
Issuer: | Bank of America Corp.
|
Issue: | Floating-rate notes
|
Underlying index: | One-year U.S. dollar SOFR ICE swap rate
|
Amount: | $5.5 million
|
Maturity: | June 8, 2026
|
Coupon: | Swap rate plus 85 bps, subject to a floor of 0% per annum; payable monthly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | June 6
|
Settlement date: | June 8
|
Agent: | BofA Securities, Inc.
|
Fees: | 0.52%
|
Cusip: | 06055JBJ7
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.