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Bank of America sets price talk for fixed-to-floaters in three parts
By Devika Patel and Cristal Cody
Knoxville, Tenn., March 8 – Bank of America Corp. intends to sell three tranches of fixed-to-floating-rate notes, according to a market source.
The offering is comprised of notes due March 11, 2027, with initial price talk in the Treasuries plus 100 bps area, notes due March 11, 2032, with initial price talk in the Treasuries plus 125 bps area, and notes due March 13, 2052, with initial price talk in the Treasuries plus 135 bps area.
The 2027 notes are non-callable for five years; the 2032 notes are non-callable for 10 years; and the 2052 notes are non-callable for 31 years.
BofA Securities, Inc. is the bookrunner.
The financial services company is based in Charlotte, N.C.
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