Bank of America Announces Redemption of $2,800,000,000 1.658% Fixed/Floating Rate Senior Notes, Due March 2027

Rhea-AI Summary

Bank of America (NYSE: BAC) announced on March 3, 2026 it will redeem on March 11, 2026 all outstanding $2,800,000,000 principal of its 1.658% Fixed/Floating Rate Senior Notes due March 2027 (CUSIP 06051GJQ3).

The notes will be redeemed at 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date; interest will cease to accrue on March 11, 2026. Payment will be made through The Depository Trust Company and BNY Mellon Trust Company, N.A. is trustee and paying agent.

Positive

• Redeems $2.8B principal of 1.658% senior notes due March 2027
• Redemption price set at 100% of principal plus accrued interest

Negative

• Redemption requires an immediate cash outflow equal to $2.8B plus accrued interest

News Market Reaction – BAC

+0.66%

1 alert

+0.66% News Effect

On the day this news was published, BAC gained 0.66%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLOTTE, N.C., March 3, 2026 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on March 11, 2026 all $2,800,000,000 principal amount outstanding of its 1.658% Fixed/Floating Rate Senior Notes, due March 2027 (CUSIP No. 06051GJQ3) (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 March 11, 2026. 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 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, 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 is Bank of America (BAC) redeeming on March 11, 2026?

Bank of America is redeeming $2,800,000,000 of 1.658% Fixed/Floating Rate Senior Notes due March 2027. According to the company, the redemption will occur at 100% of principal plus accrued interest, with interest ceasing to accrue on the redemption date.

How will Bank of America (BAC) pay for the March 11, 2026 note redemption?

Payment will be made through The Depository Trust Company using standard settlement facilities. According to the company, The Bank of New York Mellon Trust Company, N.A. is the trustee and paying agent for the notes.

What redemption price did Bank of America (BAC) set for the March 2027 notes?

The redemption price is 100% of the principal amount plus accrued and unpaid interest to, but excluding, March 11, 2026. According to the company, interest on the notes will cease to accrue on the redemption date.

Which Bank of America (BAC) security CUSIP is being redeemed on March 11, 2026?

The redeemed security is CUSIP 06051GJQ3, the 1.658% Fixed/Floating Rate Senior Notes due March 2027. According to the company, all outstanding principal amount of these notes will be redeemed on March 11, 2026.

Does Bank of America (BAC) expect interest to continue after the March 11, 2026 redemption?

No; interest on the notes will cease to accrue on the redemption date of March 11, 2026. According to the company, accrued and unpaid interest will be paid up to, but excluding, that date at redemption.