By Andrea Heisinger
New York, March 19 - Bank of America Corp. priced $1.25 billion of 3.875% five-year notes on Monday at a spread of Treasuries plus 275 basis points, an informed source said.
The notes (Baa1/A-/A) were priced at 99.708 to yield 3.94%. The paper is non-callable.
Bank of America Merrill Lynch was the bookrunner.
Bank of Ameica last priced 3.75% five-year notes at 205 bps over Treasuries as part of a $2.5 billion deal on July 7, 2011. The Charlotte-N.C.-based financial services company was last in the market on March 2 with a $600 million offering of five-year floating-rate notes.
| Issuer: | Bank of America Corp.
|
| Issue: | Notes
|
| Amount: | $1.25 billion
|
| Maturity: | March 22, 2017
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Coupon: | 3.875%
|
| Price: | 99.708
|
| Yield: | 3.94%
|
| Spread: | Treasuries plus 275 bps
|
| Call: | Non-callable
|
| Trade date: | March 19
|
| Settlement date: | March 22
|
| Ratings: | Moody's: Baa1
|
| Standard & Poor's: A-
|
| Fitch: A
|
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