Bank of America Announces Redemption of $2,500,000,000 1.197% Fixed/Floating Rate Senior Notes, Due October 2026

Rhea-AI Summary

Bank of America (NYSE: BAC) will redeem on October 24, 2025 the entire outstanding principal of its $2,500,000,000 1.197% Fixed/Floating Rate Senior Notes due October 2026 (CUSIP 06051GJK6) at a redemption price equal to 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date.

Interest on the Notes will cease to accrue on the redemption date and payment will be made through The Depository Trust Company. The Bank of New York Mellon Trust Company, N.A. is trustee and paying agent. The release also reiterates the company's consumer, digital and wealth-management scale, including service to nearly 70 million consumer and small-business clients and approximately 59 million verified digital users.

Positive

• Redeems $2.5 billion of senior notes on Oct 24, 2025
• Interest on the Notes will cease to accrue as of the redemption date

Negative

• Requires payment of $2.5 billion principal plus accrued interest on Oct 24, 2025
• Redemption creates a near-term cash outflow for the company on the redemption date

CHARLOTTE, N.C., Oct. 16, 2025 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on October 24, 2025 all $2,500,000,000 principal amount outstanding of its 1.197% Fixed/Floating Rate Senior Notes, due October 2026 (CUSIP No. 06051GJK6) (the "Notes"), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of October 24, 2025. Interest on the Notes will cease to accrue on the redemption date.

Payment of the redemption price for the Notes will be made through the facilities of The Depository Trust Company. The Bank of New York Mellon Trust Company, N.A. is the trustee and paying agent for the Notes.

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 consumer and small business clients with approximately 3,600 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, 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

View original content to download multimedia:https://www.prnewswire.com/news-releases/bank-of-america-announces-redemption-of-2-500-000-000-1-197-fixedfloating-rate-senior-notes-due-october-2026--302586749.html

SOURCE Bank of America Corporation

FAQ

What is Bank of America (BAC) redeeming on October 24, 2025?

Bank of America will redeem all outstanding $2,500,000,000 of its 1.197% Fixed/Floating Rate Senior Notes due October 2026.

At what price will BAC redeem the 1.197% senior notes due October 2026?

The notes will be redeemed at 100% of principal plus accrued and unpaid interest to, but excluding, October 24, 2025.

When does interest stop accruing on the redeemed BAC notes?

Interest on the notes will cease to accrue on the redemption date, October 24, 2025.

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

Payment of the redemption price will be made through the facilities of The Depository Trust Company.

Who is the trustee and paying agent for the BAC notes being redeemed?

The Bank of New York Mellon Trust Company, N.A. is the trustee and paying agent.

How large is the cash amount Bank of America is redeeming for BAC notes due 2026?

The redemption covers $2,500,000,000 in principal plus accrued and unpaid interest.