Bank of America Corporation announced on Apr. 16 that it will redeem all €1,500,000,000 principal amount outstanding of its 1.776% Fixed/Floating Rate Senior Notes due May 4, 2027.
The move affects investors holding these notes and involves a significant financial transaction for the company. The redemption is scheduled for May 4, 2026.
According to the announcement, the notes were issued under Bank of America’s $65 billion Euro Medium-Term Note Program. The redemption price will be equal to €1,000 per €1,000 Calculation Amount plus accrued and unpaid interest up to but not including the redemption date. Since May 4, 2026 is not a business day as defined in the terms and conditions of the notes, payment will be made on May 5, 2026. Interest will cease to accrue on the redemption date.
Payment procedures will follow those set by Euroclear Bank SA/NV and Clearstream Banking S.A., with Citibank N.A., London Branch acting as Principal Agent and Citibank Europe plc serving as Registrar for these notes.
After redemption is completed, Bank of America plans to request that the Financial Conduct Authority cancel both the listing of these notes from its Official List and their admission to trading on the regulated market of the London Stock Exchange as soon as possible following repayment.
The company also included a statement regarding 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… Forward-looking statements speak only as of the date they are made… we undertake no obligation to update any forward-looking statement.”
