Bank of America plans floaters linked to Consumer Price Index

By Toni Weeks

San Diego, May 27 - Bank of America Corp. plans to price floating-rate notes due June 16, 2023 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 5% for the first 18 months. After that, the rate will be the year-over-year change in the Consumer Price Index plus at least 162.5 basis points, up to a maximum rate of 7%. The exact spread will be set at pricing. Interest is payable monthly and cannot be less than zero.

The payout at maturity will be par.

The notes (Cusip: 06048WGF1) are expected to settle June 16.

Bank of America Merrill Lynch is the agent.

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