Bank of America Announces Redemption of €2,000,000,000 of Floating Rate Senior Notes, Due September 22, 2026

Rhea-AI Summary

Bank of America (NYSE:BAC) has announced the redemption of its €2 billion Floating Rate Senior Notes that were originally due September 22, 2026. The redemption will take place on September 22, 2025, with a redemption price of €1,000 per €1,000 calculation amount, plus accrued and unpaid interest.

The Notes were issued under BAC's €65 billion Euro Medium-Term Note Program. Following the redemption, BAC will request the Financial Conduct Authority to delist the Notes from the Official List and cancel their trading admission on the London Stock Exchange's regulated market.

Positive

• Early redemption demonstrates strong financial position and liquidity management
• Reduction of €2 billion in debt obligations

Negative

• Potential loss of investment opportunity for current noteholders

CHARLOTTE, N.C., Sept. 12, 2025 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on September 22, 2025 all €2,000,000,000 principal amount outstanding of its Floating Rate Senior Notes, due September 22, 2026 (ISIN: XS2387929834; Common Code: 238792983) (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 applicable Final Terms dated September 20, 2021), plus accrued and unpaid interest to, but excluding, the redemption date of September 22, 2025. 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 approximately 69 million consumer and small business clients with approximately 3,700 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 is listed on the New York Stock Exchange (NYSE: BAC).

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, 2024 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 is the redemption amount for Bank of America's (BAC) Floating Rate Senior Notes?

Bank of America will redeem €2 billion of Floating Rate Senior Notes at €1,000 per €1,000 calculation amount, plus accrued and unpaid interest.

When will BAC's Floating Rate Senior Notes be redeemed?

The Notes will be redeemed on September 22, 2025, ahead of their original maturity date of September 22, 2026.

How will the redemption payment for BAC's Notes be processed?

The redemption payment will be made through Euroclear Bank SA/NV and Clearstream Banking, S.A. procedures.

What happens to BAC's Notes listing after redemption?

Bank of America will request the FCA to cancel the Notes listing on the Official List and their trading admission on the London Stock Exchange's regulated market.

Who are the principal agents for BAC's Notes redemption?

Citibank, N.A., London Branch serves as the Principal Agent, while Citibank Europe plc acts as the Registrar for the Notes.