Bank of America Corporation has announced a new offering of fixed-rate callable notes, set to mature on May 5, 2028. This strategic move is aimed at enhancing the company’s funding sources in a competitive national commercial banking sector.
The offering will price on November 3, 2026, and will feature a fixed interest rate of 5.10% per annum. This interest will be paid monthly, starting from December 5, 2026. The notes will be issued in minimum denominations of $1,000 and will not be listed on any securities exchange.
Background
Bank of America, incorporated in Delaware, operates as a leading national commercial bank under the SIC code 6021. The company trades on the New York Stock Exchange under the ticker symbol BAC, among others. As a large accelerated filer, Bank of America has consistently engaged in various financial activities, including public offerings and debt securities.
What the Filing Says
The filing states, "The notes are senior unsecured debt securities issued by Bank of America Corporation (‘BAC’). All payments and the return of the principal amount on the notes are subject to our credit risk." The notes will accrue interest at a fixed rate of 5.10% per annum and can be redeemed starting May 5, 2027.
Impact
This offering may affect investors looking for fixed-income securities, as well as competitors in the national commercial banking industry. The fixed interest rate and callable feature could influence how other banks structure their own debt offerings in response to Bank of America’s strategy.
What's Next
The notes are scheduled to price on November 3, 2026, with the issuance expected to occur shortly thereafter. Further details regarding the offering will likely be disclosed in subsequent filings.