Bank of America Announces Redemption of CAD500,000,000 3.407% Fixed/Floating Rate Senior Notes Due September 2025
Bank of America (NYSE: BAC) has announced the redemption of CAD500,000,000 principal amount of its 3.407% Fixed/Floating Rate Senior Notes, due September 2025.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Bank of America (NYSE: BAC) has announced the redemption of CAD500,000,000 principal amount of its 3.407% Fixed/Floating Rate Senior Notes, due September 2025. The redemption is scheduled for September 20, 2024, at a price equal to 100% of the principal amount plus accrued and unpaid interest. Interest on the Notes will cease to accrue on the redemption date.
Bank of America, a leading global financial institution, serves approximately 69 million consumer and small business clients in the United States. The bank operates approximately 3,800 retail financial centers and 15,000 ATMs, with about 58 million verified digital users. It offers a wide range of financial services, including banking, investing, asset management, and risk management products.
Details
News Market Reaction – BAC
The recorded move for BAC in the trading session of this news was +0.18%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Payment of the redemption price for the Notes will be made in accordance with the applicable procedures of CDS Clearing and Depository Services Inc. The Bank of New York Mellon Trust Company, N.A. is the trustee and BNY Trust Company of
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
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, 2023 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.
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
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-cad500-000-000-3-407-fixedfloating-rate-senior-notes-due-september-2025--302218243.html
SOURCE Bank of America Corporation
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.