#United States #Charlotte #Senior Notes #Financial Services #Bank of America

Bank of America to Redeem €1.25 Billion of Senior Notes

On April 22, 2025, Bank of America Corporation officially announced its intention to redeem all outstanding principal amounts of its €1.25 billion 0.808% Fixed/Floating Rate Senior Notes, scheduled for maturity on May 9, 2026. This redemption will be effective on May 9, 2025, marking a notable event for the bank's ongoing financial strategy.

The senior notes involved in this redemption are part of the broader €65 billion Euro Medium-Term Note Program that the bank has established. The redemption price will be set at €1,000 per €1,000 of the calculation amount. This amount includes any accrued and unpaid interest up until the redemption date, meaning that holders of the notes will receive their full principal and any earned interest up until May 9, 2025. Following this date, interest on these notes will cease to accumulate.

Payment for the redemption will follow the established procedures defined by Euroclear Bank SA/NV and Clearstream Banking, S.A. Citibank, N.A., based in London, is designated as the Principal Agent for these notes, while Citibank Europe plc serves as the Registrar.

In addition to the redemption announcement, Bank of America plans to request that the Financial Conduct Authority (FCA) cancel the listing of these senior notes from the Official List. The bank also intends to request the cancellation of their admission to trading on the London Stock Exchange, which is expected to take place soon after the redemption is completed.

This redemptive action aligns with Bank of America's strategic financial management and showcases its commitment to maintaining a balance sheet that effectively meets the needs of its business operations and stakeholder expectations. Given the current economic environment, this move may also be interpreted as the bank positioning itself to respond to future financial opportunities or challenges.

Bank of America operates as one of the leading financial institutions in the world, catering to a broad client base including individual consumers, small to mid-sized companies, and large corporations. Through its extensive range of services such as banking, investment, and risk management solutions, the bank aims to provide comprehensive support tailored to its varied clientele. With roughly 69 million consumer and small business clients in the United States alone, Bank of America is focused on delivering superior banking experiences through both physical branches and digital platforms

Notably, in the realm of customer service, Bank of America emphasizes the importance of accessibility, offering approximately 3,700 retail financial centers and 15,000 ATMs, along with award-winning digital banking services that boast around 59 million verified users. This widespread reach exemplifies the bank's commitment to convenience and advanced technology in finance.

Investors interested in the implications of this redemption should monitor subsequent regulatory filings and updates from Bank of America, as these could indicate the bank's future financial maneuvers and market positioning. For further information regarding Bank of America, including earnings announcements and other key updates, stakeholders are encouraged to visit the Bank of America newsroom or sign up for news alerts.