BANK OF AMERICA CORP /DE/ SEC Filings

Bank of America Corporation (BAC) has filed a Rule 424(b)(2) pricing supplement for $25 million of senior unsecured Fixed-Rate Callable Notes due June 23, 2037. The notes carry a fixed coupon of 5.65% per annum, paid semi-annually on June 23 and December 23, beginning December 23, 2025. They are issued in $1,000 minimum denominations, rank pari passu with BAC’s other senior debt, and will not be listed on any exchange.

• Issue/Settlement Date: June 23, 2025
• Maturity: June 23, 2037 (12-year tenor)
• Call Feature: BAC may redeem the entire issue at par on June 23, 2026 and on each subsequent June 23 and December 23 (final call date – Dec 23, 2036) upon 5-60 days’ notice.
• Offering Economics: Public offering price 100%; underwriting discount 1.20% ($300k); net proceeds 98.80% ($24.7 million).
• CUSIP: 06055JMF3; Calculation Agent: Merrill Lynch Capital Services, Inc.

The supplement highlights key risks: (i) BAC credit risk—payments depend on the issuer’s ability to pay; (ii) call risk—investors may receive par early and face reinvestment risk; (iii) interest-rate risk—long 12-year tenor exposes holders to rate fluctuations; (iv) potential secondary-market discount due to embedded distribution and hedging costs. The notes are not FDIC-insured, not bank-guaranteed, and may lose value.

Given BAC’s trillion-dollar balance sheet, the $25 million issuance is routine funding rather than a material capital event for common-equity investors.

Bank of America Corporation (BAC) proposes to issue senior, unsecured Capped Floating-Rate Notes linked to Compounded SOFR, maturing 25 June 2035. These securities are offered under the December 2022 shelf (Reg. No. 333-268718) via prospectus supplement dated 30 December 2022.

Key terms

• Pricing date: 23 June 2025; Issue date/settlement: 25 June 2025.
• Issue price: 100% of principal; minimum denomination US$1,000; CUSIP 06055JMP1.
• Aggregate principal: to be determined at pricing; proceeds before expenses: 99.65% (after max. 0.35% underwriting concession).
• Maturity: 25 June 2035 with 100% principal repayment plus final accrued interest.
• Coupon: Compounded SOFR + 1.60 % per annum, reset and paid quarterly (25 Mar/25 Jun/25 Sep/25 Dec). Coupon is floored at 0.00 % and capped at 6.25 %.
• Ranking: pari passu with other senior, unsecured BAC obligations; no collateral, no FDIC insurance.
• Optionality: no issuer call and no holder put; notes will not be listed on an exchange.
• Settlement: book-entry through DTC; calculation agent: Merrill Lynch Capital Services, Inc.

Risk highlights

• Credit exposure to BAC—payments depend solely on the issuer’s ability to pay.
• Variable coupon may fall to 0 % in a low-rate environment, while upside is limited to 6.25 %.
• No secondary-market listing could restrict liquidity; market values may fluctuate with rates and BAC credit spreads.
• Product is not bank-guaranteed or insured by the FDIC or other agencies.

Investors should review the comprehensive “Risk Factors” discussion (PS-6) and consult advisers regarding suitability, taxation, and market risks.

Bank of America Corporation (BAC) is issuing $6.362 million in Fixed-Rate Callable Notes due 20 December 2028 under its Series P MTN program.

• Coupon: 4.75% fixed, paid quarterly on Mar 20, Jun 20, Sep 20 and Dec 20, beginning 20 Sep 2025 (30/360 day-count).
• Redemption: BAC may redeem the entire issue at par plus accrued interest on any quarterly call date starting 20 Dec 2025, with 5-60 business days’ notice.
• Ranking: Senior unsecured obligations of BAC; payments depend solely on BAC’s creditworthiness.
• Denominations: $1,000 minimums; CUSIP 06055JMG1; the notes will not be listed on an exchange and no market-making is required.
• Offer Price & Fees: Public offering price 100%; underwriting discount 0.30% ($19,086); net proceeds 99.70% ($6,342,914) before expenses. Select fee-based accounts may pay as low as 99.70%.

Key risks highlighted by the issuer include early-call reinvestment risk, exposure to changes in BAC’s credit profile, and potential secondary-market illiquidity. The pricing supplement also outlines standard U.S. federal tax treatment for fixed-rate debt, FINRA Rule 5121 conflicts, and distribution restrictions in the EEA and U.K.

Overall, this is a small, routine debt issuance that offers a modest fixed yield but gives BAC flexibility to refinance if rates fall, limiting investors’ upside.

Bank of America Corporation (BAC) is issuing $20 million of senior unsecured Fixed-Rate Callable Notes due June 20 2040 under its Series P MTN program. The notes price at 100% of face value and settle on 20 June 2025. After a 1.40% underwriting discount, net proceeds to BAC are $19.72 million.

The securities pay a fixed coupon of 5.75% per annum, calculated on a 30/360 basis and paid semi-annually on 20 June and 20 December, beginning 20 December 2025. Principal is repaid at 100% of par at maturity, provided the notes are not redeemed earlier.

Issuer call option: BAC may redeem the entire issue at par plus accrued interest on 20 December 2027 and on every subsequent semi-annual interest date through 20 December 2039. Notice must be given 5 business to 60 calendar days in advance. No holder put option is available.

Key structural terms include:

• Denominations: $1,000 and integral multiples thereof
• CUSIP: 06055JMD8
• Ranking: senior, unsecured obligations of BAC
• Listing: none; the notes will not trade on an exchange
• Calculation agent: Merrill Lynch Capital Services, Inc.

Risk considerations highlighted by BAC include: (i) issuer credit risk—all payments depend on BAC’s solvency; (ii) call risk—the notes are likely to be redeemed when prevailing rates fall below 5.75%, limiting upside and creating reinvestment risk; (iii) interest-rate risk—with a 15-year final term, price volatility may be significant if rates rise; (iv) liquidity risk—no exchange listing could constrain secondary-market trading; and (v) valuation risk—issue price embeds hedging and distribution costs, so resale prices may be below par.

Bank of America Corporation (BAC) is issuing $25 million of senior unsecured Fixed Rate Callable Notes due August 20, 2026. The notes price at 100% of principal and accrue interest at a fixed 4.55% per annum on a 30/360 basis. Interest will be paid on September 20 2025, December 20 2025, March 20 2026, June 20 2026 and at maturity. BAC may redeem the entire issue at par plus accrued interest on December 20 2025 and on each subsequent call date (March 20 2026 and June 20 2026) with 5-60 calendar days’ notice. Minimum denomination is $1,000, CUSIP 06055JMJ5, and the notes will not be listed on any exchange.

The public offering price is 100%, less an underwriting discount of 0.03% ($7,500), resulting in proceeds of 99.97% ($24,992,500) before expenses. The notes carry the credit risk of BAC, are not FDIC-insured, and are subject to early redemption, market-liquidity and valuation risks as outlined in the “Risk Factors” section. Merrill Lynch Capital Services, Inc. is the calculation agent and BofA Securities is expected to make a market, although no secondary-market liquidity is guaranteed.