CHARLOTTE, N.C.--(BUSINESS WIRE)--Bank of America Corporation (successor to Merrill Lynch & Co., Inc.) announced today that it will redeem on May 30, 2021 all C$500,000,000 principal amount outstanding of its Fixed to Floating Rate Subordinated Notes Due May 30, 2022 (CUSIP No. 5901887J1, ISIN: CA5901887J13) (the “Notes”), at a redemption price equal to 100% of the principal amount of the Notes, plus accrued and unpaid interest to, but excluding, the redemption date of May 30, 2021. Since May 30, 2021 is not a business day, the redemption price together with accrued and unpaid interest will be paid on the next succeeding business day, June 1, 2021. Interest on the Notes will cease to accrue on the redemption date.
Payment of the redemption price together with accrued and unpaid interest for the Notes will be made in accordance with the applicable procedures of CDS Clearing and Depository Services Inc. The Bank of New York Mellon is the trustee and BNY Trust Company of Canada is the paying agent for the Notes.
Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 66 million consumer and small business clients with approximately 4,300 retail financial centers, including approximately 2,700 lending centers, 2,600 financial centers with a Consumer Investment Financial Solutions Advisor and approximately 2,400 business centers; approximately 17,000 ATMs; and award-winning digital banking with approximately 40 million active users, including approximately 31 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
Forward-looking statements
Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2020 and in any of our other subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
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