Bank of America to Redeem CAD1.425 Billion Canadian Dollar Senior Notes
Bank of America is taking steps to redeem two separate issues of its Canadian dollar senior notes. The redemption will cover CAD1.425 billion, comprising CAD425 million in Floating Rate Senior Notes and CAD1 billion in 1.978% Fixed/Floating Rate Senior Notes, both originally due September 2027.
The redemption price for each series will be 100% of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date of September 15, 2026. After this date, interest on these notes will cease to accrue.
According to Bank of America's announcement, payment of the redemption price for the notes will be made in accordance with the applicable procedures of CDS Clearing and Depository Services Inc., with The Bank of New York Mellon Trust Company, N.A. acting as trustee and Computershare Advantage Trust Company of Canada as paying agent.