Bank of America Announces Redemptions of CAD425,000,000 Floating Rate Senior Notes and CAD1,000,000,000 1.978% Fixed/Floating Rate Senior Notes, Due September 2027

Bank of America will fully redeem CAD1.425 billion of Canadian dollar senior notes one year before their scheduled 2027 maturity.

Rhea-AI Summary

Bank of America (BAC) will redeem on September 15, 2026 all CAD425 million Floating Rate Senior Notes and all CAD1 billion 1.978% Fixed/Floating Rate Senior Notes, both originally due September 2027.

The redemption price for each series will be 100% of principal plus accrued and unpaid interest to, but excluding, the redemption date, after which interest will cease to accrue. Payments will be processed through CDS Clearing and Depository Services Inc., with The Bank of New York Mellon Trust Company, N.A. as trustee and Computershare Advantage Trust Company of Canada as paying agent.

Positive

• Early redemption of CAD1.425 billion notes reduces outstanding senior debt maturing in 2027.
• Redemption at 100% of principal plus accrued interest provides full principal recovery for noteholders.

Negative

• Interest stops on September 15, 2026, ending expected coupon income a year before the notes’ original 2027 maturity.
• Fixed/Floating 1.978% notes are redeemed early, limiting investors’ ability to hold to original term on existing terms.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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CHARLOTTE, N.C., Sept. 4, 2026 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on September 15, 2026 all CAD425,000,000 principal amount outstanding of its Floating Rate Senior Notes, due September 2027 (CUSIP No. 060505FY5, ISIN: CA060505FY50) (the "Floating Rate Notes"), and all CAD1,000,000,000 principal amount outstanding of its 1.978% Fixed/Floating Rate Senior Notes, due September 2027 (CUSIP No. 060505FZ2, ISIN: CA060505FZ26) (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 September 15, 2026. 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 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 Computershare Advantage Trust Company of Canada (f/k/a BNY Trust Company of Canada) is the 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 more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 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. As the #1 small business lender in the United States (FDIC), 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 and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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.

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

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SOURCE Bank of America Corporation

FAQ

What did Bank of America (BAC) announce about its Canadian dollar senior notes due September 2027?

Bank of America announced it will redeem on September 15, 2026 all CAD425 million Floating Rate Senior Notes and all CAD1 billion 1.978% Fixed/Floating Rate Senior Notes, both originally due in September 2027.

What is the redemption price for Bank of America’s BAC notes being redeemed in September 2026?

The redemption price for each series of Bank of America’s notes will be 100% of the principal amount of that series, plus accrued and unpaid interest to, but excluding, the redemption date of September 15, 2026.

When will interest stop accruing on Bank of America’s CAD senior notes (BAC) being redeemed?

Interest on each series of the Bank of America CAD senior notes will cease to accrue on the redemption date of September 15, 2026. After that date, holders will no longer earn coupon payments on these securities.

How will Bank of America’s BAC note redemption payments be made to holders?

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. acts as trustee and Computershare Advantage Trust Company of Canada as paying agent.

Which specific Bank of America (BAC) senior notes are being fully redeemed in Canada?

Bank of America is redeeming all outstanding CAD425,000,000 Floating Rate Senior Notes (CUSIP 060505FY5, ISIN CA060505FY50) and all CAD1,000,000,000 1.978% Fixed/Floating Rate Senior Notes (CUSIP 060505FZ2, ISIN CA060505FZ26), both due September 2027.