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

Bank of America Announces Redemption of €2 Billion Floating Rate Senior Notes

In a significant financial move, Bank of America Corporation has made an announcement regarding the redemption of €2,000,000,000 in outstanding principal amount of its Floating Rate Senior Notes. These notes, scheduled to mature on September 22, 2026, will be redeemed on September 22, 2025. The decision reflects the bank's ongoing strategy to manage its financial obligations and optimize its capital structure.

The Floating Rate Senior Notes were issued under the Bank of America Corporation U.S. $65,000,000,000 Euro Medium-Term Note Program. Investors in these notes can expect the redemption price to be equal to €1,000 for each €1,000 calculation amount. This amount will include accrued and unpaid interest up until the redemption date, creating a favorable return for investors. Importantly, interest on the notes will cease to accrue once the redemption date arrives.

Payments for the redemption will adhere to the procedures established by Euroclear Bank SA/NV and Clearstream Banking, S.A., ensuring a streamlined and efficient process for investors to receive their payments.

Moreover, Citibank, N.A., London Branch has been designated as the Principal Agent for the notes, while Citibank Europe plc serves as the Registrar. These financial institutions play a crucial role in facilitating the redemption process, maintaining the integrity of transactions and investor communications.

Following the completion of the redemption, Bank of America intends to request that the Financial Conduct Authority (FCA) cancels the listing of the Notes from the Official List and removes them from trading on the London Stock Exchange. This step is part of the bank's strategy to simplify its financial instruments and focus on core operations.

About Bank of America

Bank of America is recognized as one of the leading financial institutions globally, catering to a diverse clientele ranging from individual consumers to large corporations. With approximately 69 million clients in the United States, the bank offers a robust range of services, including banking, investment, and asset management. Its extensive retail presence is marked by nearly 3,700 financial centers and 15,000 ATMs across the country, complemented by cutting-edge digital banking services catering to 59 million verified users.

As a prominent player in wealth management and corporate banking, Bank of America provides strategic support across multiple sectors, serving corporations and institutions worldwide. Its commitment to innovation is reflected in the suite of online products designed for small business owners, showcasing the bank's focus on accessibility and user experience.

Bank of America Corporation is publicly traded on the New York Stock Exchange under the ticker symbol BAC, and continues to adapt its services to meet evolving market dynamics and client needs. For further updates and investor insights, stakeholders can visit the Bank of America newsroom and register for email alerts.

Conclusion

The redemption of the Floating Rate Senior Notes is a key strategic action by Bank of America, underlined by its commitment to sound financial management and investor relations. As the bank continues to streamline its operations, market participants will be paying close attention to the implications of such decisions on the broader financial landscape, particularly in terms of liquidity and investment attractiveness.

For any inquiries related to this redemption, Bank of America has provided contact information for investor relations, highlighting their proactive approach in maintaining transparency and communication with stakeholders.