© Reuters.
CHARLOTTE, N.C. – Bank of America Corporation (NYSE:) has announced its intention to fully redeem a series of senior notes valued at CAD 1 billion on April 25, 2024. These notes, bearing a fixed/floating interest rate of 2.932%, were initially set to mature in April 2025.
The redemption price has been set at 100% of the principal amount, in addition to accrued and unpaid interest leading up to but not including the redemption date.
The notes in question, identified by CUSIP No. 060505FM1 and ISIN: CA060505FM13, will cease to accrue interest from the redemption date onward. The procedures outlined by CDS Clearing and Depository Services Inc. will be followed for the payment of the redemption price.
The Bank of New York Mellon (NYSE:) Trust Company, N.A. serves as the trustee, with BNY Trust Company of Canada acting as the paying agent.
Bank of America, a leading global financial institution, provides a variety of banking, investment, asset management, and risk management services. It caters to individual consumers, small and middle-market businesses, and large corporations.
With a vast network of retail financial centers and ATMs, along with digital banking services, the company has established a significant presence in the United States and operates in over 35 countries.
The company’s stock is traded on the New York Stock Exchange under the ticker NYSE:BAC. This redemption move comes as part of Bank of America’s broader financial management strategy.
The press release includes a standard disclaimer regarding forward-looking statements, cautioning that they involve certain risks and uncertainties and are not guarantees of future performance. These statements should be considered with an understanding of the risks outlined in the company’s Annual Report and subsequent SEC filings.
The announcement is based on a press release statement from Bank of America Corporation.
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