Bank of America to sell fixed-to-floaters via BofA Securities

By Devika Patel

Knoxville, Tenn., May 14 – Bank of America Corp. intends to price an offering of fixed-to-floating rate senior notes, according to a 424B2 filed with the Securities and Exchange Commission.

Interest will accrue at a fixed rate initially and then at a rate based on SOFR.

The notes are non-callable for the first six months and then feature a make-whole call and then a par call.

BofA Securities, Inc. is the bookrunner.

Proceeds will be used to finance or refinance existing and new eligible social investments specifically related to the response to the Covid-19 global pandemic.

The financial services company is based in Charlotte, N.C.

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