Bank of America Announces Redemptions of $500,000,000 Floating Rate Senior Notes and $3,000,000,000 3.384% Fixed/Floating Rate Senior Notes, Due April 2026

Rhea-AI Summary

Bank of America (NYSE: BAC) has announced the redemption of two series of senior notes on April 2, 2025: $500 million of Floating Rate Senior Notes and $3 billion of 3.384% Fixed/Floating Rate Senior Notes, both due April 2026.

The redemption price for each series will be 100% of the principal amount plus accrued and unpaid interest until the redemption date. The payment will be processed through The Depository Trust Company, with The Bank of New York Mellon Trust Company, N.A. serving as trustee and paying agent.

BAC currently serves approximately 69 million consumer and small business clients through 3,700 retail centers and 15,000 ATMs, with 58 million verified digital users. The bank operates across the United States and more than 35 countries.

Positive

• Early redemption of $3.5 billion in senior notes indicates strong liquidity position
• Large retail presence with 69 million consumer and small business clients
• Strong digital banking adoption with 58 million verified digital users

Negative

• None.

News Market Reaction – BAC

-1.06%

1 alert

-1.06% News Effect

On the day this news was published, BAC declined 1.06%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHARLOTTE, N.C., March 25, 2025 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on April 2, 2025 all $500,000,000 principal amount outstanding of its Floating Rate Senior Notes, due April 2026 (CUSIP No. 06051GKN8) (the "Floating Rate Notes"), and all $3,000,000,000 principal amount outstanding of its 3.384% Fixed/Floating Rate Senior Notes, due April 2026 (CUSIP No. 06051GKM0) (the "Fixed/Floating Rate Notes" and, together with the Floating Rate Notes, the "Notes").

The redemption price for each series of the Notes will be equal to 100% of the principal amount of such series, plus accrued and unpaid interest to, but excluding, the redemption date of April 2, 2025. Interest on each series of 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 approximately 69 million consumer and small business clients with 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 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).

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 total value of senior notes being redeemed by Bank of America (BAC) in April 2025?

Bank of America is redeeming a total of $3.5 billion in senior notes, comprising $500 million in Floating Rate Notes and $3 billion in Fixed/Floating Rate Notes.

When will BAC's senior notes redemption take place and at what price?

The redemption will occur on April 2, 2025, at 100% of the principal amount plus accrued and unpaid interest.

What is the interest rate on BAC's Fixed/Floating Rate Notes being redeemed?

The Fixed/Floating Rate Notes carry an interest rate of 3.384%.

How many retail financial centers and ATMs does Bank of America (BAC) currently operate?

BAC operates 3,700 retail financial centers and approximately 15,000 ATMs across its network.