Bank of America Announces Redemption of CHF 375 Million Notes
Bank of America Corporation has made a significant announcement regarding its financial strategy. The bank is set to redeem CHF 375,000,000 of its 0.2525% Senior Notes, which are due on June 12, 2026. This decision underscores the bank's ongoing commitment to managing its financial portfolio effectively.
Details of the Redemption
The upcoming redemption will take place on June 12, 2025. The principal amount of the outstanding Notes will be redeemed at an Optional Redemption Amount of CHF 5,000 per CHF 5,000 Calculation Amount, as noted in the Pricing Supplement. Alongside the principal, accrued and unpaid interest will also be included up to the redemption date. This means that on the specified date, interest will stop accruing for the holders of these Notes.
Payment and Trading Information
Payments for the redemption will follow the procedures established by SIX SIS AG, the appointed clearing and settlement facility. This ensures a smooth transaction for all parties involved. Moreover, it is important to note that the last day of trading for these Notes on the SIX Swiss Exchange will occur on June 10, 2025. Investors anticipating this redemption should take note of these critical dates.
About Bank of America
Bank of America stands as one of the leading financial institutions globally. Its services encompass a wide range of banking, investing, asset management, and risk management tailored for individual consumers, small businesses, and large corporations. The institution prides itself on providing unparalleled convenience, aiming to serve around 69 million clients, which includes both consumers and small businesses.
With approximately 3,700 retail financial centers and around 15,000 ATMs, Bank of America maintains a strong presence across the United States. Additionally, their digital banking services boast approximately 59 million verified users, reflecting their commitment to modern banking. The company is also recognized for its expertise in wealth management and corporate investment banking.
Innovative Solutions for Small Businesses
Bank of America invests heavily in supporting small business households. They offer a variety of innovative online products designed for ease of use. This dedication helps ensure that small businesses can thrive, which is vital in fueling economic growth. Furthermore, the bank operates globally, reaching markets in over 35 countries, reinforcing its status as a key player in the financial world.
Investors and Contact Information
For those looking to learn more about their investments or to reach Bank of America's investor relations, they may do so through dedicated contact personnel. Inquiries can be directed to Lee McEntire, who specializes in investor relations and can be reached via phone.
Additionally, Jonathan G. Blum can assist clients with fixed income inquiries. These representatives aim to provide valuable insights and assistance regarding investments and financial strategies.
For media inquiries, reporters can contact Jocelyn Seidenfeld. The team is always ready to assist with questions and to share the latest updates regarding the bank's initiatives and strategies.
Frequently Asked Questions
What are the senior notes being redeemed by Bank of America?
The senior notes being redeemed are CHF 375 million of 0.2525% Senior Notes due on June 12, 2026.
What is the redemption date for these notes?
The notes will be redeemed on June 12, 2025.
How will the redemption payment be processed?
The payment will be processed in accordance with the procedures of SIX SIS AG.
What happens to the interest after the redemption date?
Interest on the notes will cease to accrue on the redemption date, making the final interest payment prior to this date.
Who can be contacted for more information about Bank of America?
Lee McEntire and Jonathan G. Blum are available for investor inquiries, while reporters can reach out to Jocelyn Seidenfeld for media-related questions.
