Bank of America to Redeem $3 Billion Fixed/Floating Rate Senior Notes
Bank of America Corporation has decided to redeem a total of $3,000,000,000 principal amount of its 5.080% Fixed/Floating Rate Senior Notes that are due in January 2027. This decision is set to take effect on January 20, 2026, highlighting the bank's strong financial position and commitment to managing its capital effectively.
The redemption will occur at a price equal to the principal amount plus any accrued and unpaid interest, ensuring that investors are compensated fairly. Following the redemption, interest on these notes will cease to accrue on the redemption date.
Redemption Payment Process
The payment for the redemption will be facilitated through the facilities of The Depository Trust Company, ensuring a smooth transaction process for all parties involved. The Bank of New York Mellon Trust Company, N.A. will serve as the trustee and paying agent for these Notes.
Overview of Bank of America
Bank of America is renowned as one of the leading financial institutions globally. It caters to a wide array of clients, including individual consumers, small to mid-sized businesses, and large corporations. The institution offers a complete range of banking, investment, asset management, and financial risk management products and services.
With nearly 70 million consumers and small business clients, Bank of America provides considerable convenience across the nation. The institution operates approximately 3,600 retail financial centers, maintains about 15,000 ATMs, and boasts an award-winning digital banking platform that supports around 59 million verified online users. This emphasis on digital services reflects the bank's commitment to enhancing customer experience through technology.
Strength in Wealth Management
Additionally, Bank of America stands out as a global leader in wealth management and corporate investment banking. The institution manages trading across a diverse range of asset classes, providing invaluable services to corporations, governments, institutions, and individual investors worldwide. The company prides itself on delivering industry-leading support to around 4 million small business households through its innovative and user-friendly online products and services.
Commitment to Operations
Bank of America operates not only in the United States but extends its services to more than 35 countries. With a focus on customer satisfaction and strategic growth, the bank continues to widen its operational horizon.
Investor and Media Contact Information
For investor inquiries, Lee McEntire is available and can be reached at the Bank of America, phone number 1.980.388.6780. Furthermore, Jonathan G. Blum from the Fixed Income department can be contacted at 1.212.449.3112 for more specific information regarding fixed income securities.
Members of the media seeking further details can contact Jocelyn Seidenfeld at 1.646.743.3356. These contacts represent a portion of Bank of America’s dedicated team that strives to keep investors and the media informed about the company's significant developments.
Frequently Asked Questions
What are the details of the note redemption announced by Bank of America?
Bank of America is redeeming $3 billion of its 5.080% Fixed/Floating Rate Senior Notes due January 2027 at the principal amount plus any accrued interest.
When is the redemption date for the senior notes?
The redemption date is set for January 20, 2026.
How will the redemption payment be processed?
Payments will be made through the facilities of The Depository Trust Company, with The Bank of New York Mellon serving as the trustee and paying agent.
How does Bank of America serve its clients?
Bank of America provides various banking, investment, asset management, and financial risk management products and services to a diverse clientele worldwide.
Who can be contacted for more information regarding the redemption?
For inquiries, investors can reach out to Lee McEntire or Jonathan G. Blum at their respective contact numbers provided by the bank.
