Bank of America, N.A. Announces Redemptions of $2,000,000,000 5.650% Senior Bank Notes and $400,000,000 Floating Rate Senior Bank Notes, Due August 2025

Bank of America (NYSE: BAC) has announced the redemption of two series of Senior Bank Notes due August 2025: $2 billion of 5.650% Fixed Rate Notes and $400 million of Floating Rate Notes.

Rhea-AI Summary

Bank of America (NYSE: BAC) has announced the redemption of two series of Senior Bank Notes due August 2025: $2 billion of 5.650% Fixed Rate Notes and $400 million of Floating Rate Notes. The redemption will occur on July 18, 2025, with both series being redeemed at 100% of their principal amount plus accrued and unpaid interest.

The redemption will be processed through The Depository Trust Company, with Citibank, N.A. serving as the U.S. registrar and paying agent. Bank of America currently serves approximately 69 million consumer and small business clients through its network of 3,700 retail centers and 15,000 ATMs, with 59 million verified digital users.

Positive

• Early redemption demonstrates strong liquidity position
• Full principal repayment at 100% shows financial stability

Negative

• Holders of the notes will lose future interest payments from these securities

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CHARLOTTE, N.C., July 10, 2025 /PRNewswire/ -- Bank of America, N.A. announced today that it will redeem on July 18, 2025 all $2,000,000,000 principal amount outstanding of its 5.650% Senior Bank Notes, due August 2025 (CUSIP No. 06428CAC8) (the "Fixed Rate Notes"), and all $400,000,000 principal amount of its Floating Rate Senior Bank Notes, due August 2025 (CUSIP No. 06428CAD6) (the "Floating Rate Notes" and, together with the Fixed 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 July 18, 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. Citibank, N.A. is the U.S. registrar and paying agent for the Notes.

Bank of America

Bank of America Corporation, the parent company of Bank of America, N.A., 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 approximately 3,700 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 is listed on the New York Stock Exchange (NYSE: BAC).

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-na-announces-redemptions-of-2-000-000-000-5-650-senior-bank-notes-and-400-000-000-floating-rate-senior-bank-notes-due-august-2025--302502781.html

SOURCE Bank of America Corporation

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the total amount of notes being redeemed by Bank of America (BAC)?

Bank of America is redeeming a total of $2.4 billion in notes, consisting of $2 billion in 5.650% Fixed Rate Notes and $400 million in Floating Rate Notes.

When will Bank of America (BAC) redeem these Senior Bank Notes?

Bank of America will redeem the notes on July 18, 2025, ahead of their original August 2025 maturity date.

What is the redemption price for BAC's Senior Bank Notes?

The redemption price is 100% of the principal amount plus accrued and unpaid interest up to, but excluding, the July 18, 2025 redemption date.

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

Bank of America operates approximately 3,700 retail financial centers and 15,000 ATMs across the United States.

Who is the paying agent for BAC's Senior Bank Notes redemption?

Citibank, N.A. is serving as the U.S. registrar and paying agent for the Notes redemption.