By Wendy Van Sickle
Columbus, Ohio, March 17 – Bank of America Corp. priced $12 million of step-up callable notes due March 11, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The initial interest rate is 0.4% initially, stepping up to 0.5% on March 11, 2023. Interest is payable quarterly.
The payout at maturity will be par plus any interest due.
After six months, the notes are callable quarterly at par plus any unpaid interest.
BofA Securities, Inc. is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Step-up callable notes
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| Amount: | $12 million
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| Maturity: | March 11, 2024
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| Coupon: | 0.4% initially, stepping up to 0.5% on March 11, 2023 payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Call option: | Quarterly at par plus unpaid interest, beginning after six months
|
| Pricing date: | March 9
|
| Settlement date: | March 11
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 0.3%
|
| Cusip: | 06048WL73
|
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