Summary by Moomoo AI
Bank of America Corporation (BAC) has issued $100 million in Fixed Rate Callable Notes, due November 6, 2025, as detailed in a pricing supplement to its prospectus dated December 30, 2022. The notes, which are senior unsecured debt securities, priced on May 2, 2024, and will mature on November 6, 2025, offering an interest rate of 5.60% per annum. Interest payments are scheduled quarterly starting August 6, 2024. BAC retains the right to redeem all notes on November 6, 2024, and on each subsequent Call Date. The notes, with CUSIP number 06055JEK1, are issued in minimum denominations of $1,000 and are not listed on any securities exchange. The offering includes a public offering price of 100% of the principal amount, an underwriting discount of 0.17%, and proceeds to BAC before expenses of 99.83% of the principal amount. The notes are not FDIC insured, not bank guaranteed, and may lose value, indicating a level of investment risk. The notes will be delivered in book-entry form through The Depository Trust Company on May 6, 2024, against payment in immediately available funds.