Bank of America Corporation announced it will redeem all outstanding €1,750,000,000 principal amount of its 1.949% Fixed/Floating Rate Senior Notes, which are due on October 27, 2026. The redemption will take place on October 27, 2025.
The notes were issued as part of the bank’s $65 billion Euro Medium-Term Note Program. The redemption price will be €1,000 per €1,000 calculation amount, as specified in the final terms dated April 22, 2022. Accrued and unpaid interest will also be paid up to but not including the redemption date. After that date, interest on the notes will no longer accrue.
Payments for the redemption will follow procedures set by Euroclear Bank SA/NV and Clearstream Banking, S.A. Citibank, N.A., London Branch acts as the principal agent for the notes, while Citibank Europe plc serves as registrar.
Bank of America will ask the Financial Conduct Authority to remove the notes from its official list and request that the London Stock Exchange cancels their admission to trading on its regulated market after redemption.
According to Bank of America, it is one of the largest financial institutions in the world. The company serves about 70 million consumer and small business clients in the United States through a network of approximately 3,600 retail centers and about 15,000 ATMs. Its digital banking services have around 59 million verified users. The company operates across more than 35 countries and supports about 4 million small business households with online products and services. Bank of America Corporation stock is listed on the New York Stock Exchange under the symbol BAC.
The release includes a statement about forward-looking information: “Certain information contained in this news release may constitute ‘forward-looking statements’ within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. ‘Risk Factors’ in our Annual Report on Form 10-K for the year ended December 31, 2024 and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.”
Contact information for investors includes Lee McEntire at 1.980.388.6780 (lee.mcentire@bofa.com) and Jonathan G. Blum at 1.212.449.3112 (jonathan.blum@bofa.com). For reporters, Jocelyn Seidenfeld can be reached at 1.646.743.3356 (jocelyn.seidenfeld@bofa.com).
