Bank of America to redeem $6.15B senior notes due July 2027
Bank of America Corporation will redeem $400 million in Floating Rate Senior Notes and $5.75 billion in 1.734% Fixed/Floating Rate Senior Notes, both due July 2027, on July 22, 2026. The redemption will be at 100% of the principal amount plus accrued interest. Interest on the notes will stop accruing on the redemption date.
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Bank of America Corporation announced it will redeem all outstanding principal amounts of its Floating Rate Senior Notes and 1.734% Fixed/Floating Rate Senior Notes due July 2027. The total redemption amount is $6.15 billion, comprising $400 million in floating rate notes and $5.75 billion in fixed/floating rate notes. The redemption is scheduled for July 22, 2026, and will be executed at par value plus accrued interest to, but excluding, the redemption date. Interest on the notes will cease to accrue on the redemption date.
Redemption Details
The redemption price for each series of the notes will be 100% of the principal amount. The specific notes being redeemed include the Floating Rate Senior Notes (CUSIP No. 06051GJV2) and the 1.734% Fixed/Floating Rate Senior Notes (CUSIP No. 06051GJS9). Both series are due July 2027.
| Note Series | Principal Amount | CUSIP No. |
|---|---|---|
| Floating Rate Senior Notes | $400,000,000 | 06051GJV2 |
| 1.734% Fixed/Floating Rate Senior Notes | $5,750,000,000 | 06051GJS9 |
Payment and Trustee Information
Payment of the redemption price will be made through the facilities of The Depository Trust Company. The Bank of New York Mellon Trust Company, N.A. serves as the trustee and paying agent for the notes. The announcement was made on July 14, 2026, from Charlotte, N.C.
How will this redemption impact Bank of America's future borrowing costs given current interest rate environments?
What does this move suggest about the bank's liquidity position and capital allocation strategy?
Will Bank of America issue new debt to replace these notes, and if so, what terms might they seek?
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