Bank of America announced today that it will redeem $2.5 billion of its 1.197% Fixed/Floating Rate Senior Notes, due October 2026. The redemption will occur on October 24, 2025, at a price equal to 100% of principal plus accrued and unpaid interest. The notes are identified by CUSIP 06051GJK6.
The redemption will be paid through the facilities of The Depository Trust Company, with Bank of New York Mellon Trust Company acting as trustee and paying agent. Interest on the notes will cease to accrue on the redemption date. The move is part of the bank’s ongoing debt‑management strategy to reduce interest expense and optimize its capital structure.
By redeeming the notes, Bank of America will reduce its outstanding debt by $2.5 billion and free up capital for future lending or shareholder returns. The bank’s credit profile remains strong, and the redemption aligns with its goal of maintaining a robust CET1 ratio. The transaction is expected to have a modest impact on the bank’s balance sheet and earnings in the short term.
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