Bank of America Announces Redemption of $3,000,000,000 3.559% Fixed/Floating Rate Senior Notes, Due April 2027

Rhea-AI Summary

Bank of America (NYSE: BAC) will redeem all $3,000,000,000 principal amount outstanding of its 3.559% Fixed/Floating Rate Senior Notes due April 2027 (CUSIP 06051GHT9) on April 23, 2026 at 100% of principal plus accrued interest.

Interest will cease to accrue on the redemption date; payment will be made through The Depository Trust Company and BNY Mellon serves as trustee and paying agent.

Positive

• Redeems $3.0B of senior notes maturing April 2027
• Redemption price at 100% of principal plus accrued interest
• Interest on the notes will cease to accrue on April 23, 2026

Negative

• Requires a $3.0B cash outflow to settle the redemption on April 23, 2026

News Market Reaction – BAC

+1.60%

+1.60% Session close to close

In the Apr 9 session, BAC gained 1.60%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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CHARLOTTE, N.C., April 8, 2026 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on April 23, 2026 all $3,000,000,000 principal amount outstanding of its 3.559% Fixed/Floating Rate Senior Notes, due April 2027 (CUSIP No. 06051GHT9) (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 April 23, 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 will Bank of America (BAC) redeem on April 23, 2026?

Bank of America will redeem $3,000,000,000 of 3.559% Fixed/Floating Rate Senior Notes due April 2027. According to the company, the redemption price is 100% of principal plus accrued and unpaid interest to, but excluding, April 23, 2026.

How will the redemption of BAC notes affect interest accrual?

Interest on the redeemed notes will stop accruing on the redemption date, April 23, 2026. According to the company, accrued and unpaid interest is payable up to, but excluding, that date, and interest ceases on the redemption date.

Who is handling payment and trustee duties for BAC's redeemed notes?

Payment will be made through The Depository Trust Company and The Bank of New York Mellon Trust Company, N.A. serves as trustee and paying agent. According to the company, these parties will facilitate the redemption settlement on April 23, 2026.

What is the redemption price for BAC's 3.559% notes due April 2027?

The redemption price is 100% of the principal amount plus accrued and unpaid interest to, but excluding, April 23, 2026. According to the company, holders will receive principal and accrued interest through the redemption date.

Which CUSIP identifies the Bank of America notes being redeemed?

The redeemed notes are identified by CUSIP No. 06051GHT9. According to the company, all outstanding principal under that CUSIP will be redeemed on April 23, 2026 at the stated redemption price.

Will BAC continue to list these notes after the April 23, 2026 redemption?

Following full redemption, the redeemed notes will no longer accrue interest and will be settled through DTC, effectively retiring those securities. According to the company, interest ceases on April 23, 2026 and payment will be made via DTC.