Bank of America Announces Redemption of €1,500,000,000 1.776% Fixed/Floating Rate Senior Notes, due May 4, 2027

Rhea-AI Summary

Bank of America (NYSE: BAC) will redeem on May 4, 2026 all outstanding €1,500,000,000 of its 1.776% Fixed/Floating Rate Senior Notes due May 4, 2027 (ISIN XS1602547264).

The redemption price equals €1,000 per €1,000 calculation amount plus accrued interest; payment will be made on the next business day, May 5, 2026. Interest will cease to accrue on the redemption date.

Positive

• Redeems €1,500,000,000 of senior notes, reducing reported debt outstanding
• Interest on the notes will cease to accrue as of the redemption date
• Redemption price equals principal (€1,000 per €1,000) plus accrued interest, a clean payoff

Negative

• Expected cash outflow of €1,500,000,000 plus accrued interest on May 5, 2026
• Notes will be delisted from FCA Official List and London Stock Exchange, reducing market liquidity

News Market Reaction – BAC

-1.49%

-1.49% Session close to close

In the Apr 16 session, BAC declined 1.49%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHARLOTTE, N.C., April 16, 2026 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on May 4, 2026 all €1,500,000,000 principal amount outstanding of its 1.776% Fixed/Floating Rate Senior Notes, due May 4, 2027 (ISIN: XS1602547264; Common Code: 160254726) (the "Notes"). 

The Notes were issued under the Bank of America Corporation U.S. $65,000,000,000 Euro Medium-Term Note Program. The redemption price for the Notes will be equal to the Optional Redemption Amount of €1,000 per €1,000 Calculation Amount (as specified in the Amended and Restated Final Terms dated May 8, 2018), plus accrued and unpaid interest to, but excluding, the redemption date of May 4, 2026. Since May 4, 2026 is not a business day (as defined in the Terms and Conditions of the Notes), the redemption price for the Notes will be paid on the next succeeding business day, May 5, 2026. Interest on the Notes will cease to accrue on the redemption date.

Payment of the redemption price for the Notes will be made in accordance with the applicable procedures of Euroclear Bank SA/NV and Clearstream Banking, S.A.

Citibank, N.A., London Branch is the Principal Agent for the Notes and Citibank Europe plc is the Registrar for the Notes.

Bank of America Corporation will request the Financial Conduct Authority (the "FCA") to cancel the listing of the Notes on the Official List of the FCA and the London Stock Exchange (the "Exchange") to cancel the admission to trading on the regulated market of the Exchange as soon as practicable after the redemption date.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Forward-looking statements

Certain information contained in this news release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025 and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

Investors may contact

Lee McEntire, Bank of America
Phone: 1.980.388.6780
lee.mcentire@bofa.com

Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com

Reporters may contact

Jocelyn Seidenfeld, Bank of America
Phone: 1.646.743.3356
jocelyn.seidenfeld@bofa.com

 

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SOURCE Bank of America Corporation

FAQ

What exactly is Bank of America redeeming on May 4, 2026 (BAC)?

Bank of America is redeeming all €1,500,000,000 outstanding of its 1.776% Fixed/Floating Rate Senior Notes due May 4, 2027. According to Bank of America, redemption equals €1,000 per €1,000 calculation amount plus accrued interest, with payment on May 5, 2026.

When will interest stop accruing on the redeemed BAC notes?

Interest on the notes will cease to accrue on the redemption date, May 4, 2026. According to Bank of America, because May 4 is not a business day, payment will be made on the next business day, May 5, 2026, with interest stopping on the redemption date.

How will Bank of America pay the redemption price for the BAC notes?

Payment will be made via Euroclear and Clearstream procedures on the next business day, May 5, 2026. According to Bank of America, the Principal Agent is Citibank N.A., London Branch and the Registrar is Citibank Europe plc for processing the redemption.

Will the BAC notes remain listed after the May 2026 redemption?

Bank of America will request the FCA and London Stock Exchange to cancel the listing and trading admission after redemption. According to Bank of America, cancellation requests will be submitted as soon as practicable following the redemption date.

What is the redemption price per note for Bank of America’s 2027 notes (BAC)?

The redemption price is €1,000 per €1,000 calculation amount plus accrued and unpaid interest to but excluding the redemption date. According to Bank of America, the Amended and Restated Final Terms dated May 8, 2018 specify this Optional Redemption Amount.