Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Postmarket

Last Trade
Delayed
$35.49
-0.04 (-0.11%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$35.53
Day's Change
-0.26 (-0.73%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.94
Day's Low
35.50
Volume
(Light)
Volume:
41,124,885

10-day average volume:
56,491,969
41,124,885

Bank of America Announces Redemption of EUR2.0 Billion of Floating Rate Senior Notes, due February 7, 2022 and EUR1.25 Billion of 0.736% Fixed/Floating Rate Senior Notes, due February 7, 2022

7:00 am ET January 22, 2021 (BusinessWire) Print

Bank of America Corporation announced today that it will redeem on February 7, 2021 (i) all EUR2,000,000,000 principal amount outstanding of its Floating Rate Senior Notes, due February 7, 2022 (ISIN: XS1560862580; Common Code: 156086258) (the "Floating Rate Notes") and (ii) all EUR1,250,000,000 principal amount outstanding of its 0.736% Fixed/Floating Rate Senior Notes, due February 7, 2022 (ISIN: XS1560863554; Common Code: 156086355) (the "Fixed/Floating Rate Notes" and together with the Floating Rate Notes, the "Notes").

Each series of the Notes was issued under the Bank of America Corporation U.S.$65,000,000,000 Euro Medium-Term Note Program. The redemption price for each series of the Notes will be equal to the Optional Redemption Amount of EUR1,000 per EUR1,000 Calculation Amount (as specified in the applicable Final Terms dated February 3, 2017), plus accrued and unpaid interest to, but excluding, the redemption date of February 7, 2021. Since February 7, 2021 is not a business day, the redemption price for each series of the Notes will be paid on the next succeeding business day, February 8, 2021. Interest on each series of the Notes will cease to accrue on the redemption date.

Payment of the redemption price for each series of the Notes will be made in accordance with the applicable procedures of Euroclear Bank SA/NV and Clearstream Banking, S.A. Bank of America, N.A. (operating through its London Branch) is the Principal Agent for each series of the Notes and Bank of America Europe DAC (formerly known as Bank of America Merrill Lynch International DAC) is the Registrar for each series of the Notes.

Bank of America Corporation will request the Financial Conduct Authority to cancel the listing of each series of the Notes and the London Stock Exchange plc to cancel the admission to trading of each series of the Notes on or around the business day following the redemption date.

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 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,700 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,400 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 39 million active users, including approximately 31 million mobile 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 3 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 approximately 35 countries. 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, 2019, under Part II, Item 1A. "Risk Factors" in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, 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. Click here to register for news email alerts.

www.bankofamerica.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20210122005017/en/

SOURCE: Bank of America Corporation

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:

Jerry Dubrowski, Bank of America
Phone: 1.646.855.1195 (office) or 1.508.843.5626 (mobile)
jerome.f.dubrowski@bofa.com

Christopher P. Feeney, Bank of America
Phone: 1.980.386.6794
christopher.feeney@bofa.com
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