Bank of America, N.A. has announced plans to redeem a total of $2.6 billion in outstanding senior bank notes on July 17, 2026, as part of its scheduled debt management activities.
The redemption covers two series of debt securities: $2 billion in 5.526% Senior Bank Notes due August 2026 and $600 million in Floating Rate Senior Bank Notes due August 2026. The move comes just weeks before the notes are set to mature.
Redemption Details
According to the bank, investors holding either series of notes will receive a redemption price equal to 100% of the principal amount, along with any accrued and unpaid interest up to, but excluding, the redemption date of July 17.
Following the redemption, interest on both the fixed-rate and floating-rate notes will cease to accrue.
The payment process will be handled through the facilities of The Depository Trust Company (DTC), which facilitates the clearing and settlement of securities transactions in the United States. Citibank, N.A. will serve as the U.S. registrar and paying agent for the redemption.
The announcement provides investors with clarity on the final settlement process while reflecting the bank’s ongoing approach to managing its debt obligations efficiently.
Part of Routine Capital Management
Redemption of outstanding debt securities is a common practice among financial institutions as notes approach maturity. Such transactions allow banks to streamline their funding structure, manage liquidity requirements, and maintain a well-balanced capital profile.
By redeeming the notes at full principal value together with accrued interest, Bank of America is fulfilling the terms outlined for the securities while ensuring a smooth repayment process for investors.
A Global Banking Leader
Bank of America remains one of the world’s largest financial institutions, offering a comprehensive range of banking, investment, wealth management and financial services to individuals, businesses and institutional clients.
In the United States, the bank serves nearly 70 million customers through approximately 3,500 financial centres, around 15,000 ATMs, and a robust digital banking platform with nearly 59 million verified digital users. Beyond consumer banking, the institution maintains a significant presence in corporate and investment banking, asset management and global markets.
The company also supports approximately 4 million small business households across the U.S. through its lending and digital financial services. Operating in more than 35 countries, Bank of America continues to maintain a broad international footprint while its parent company, Bank of America Corporation (NYSE: BAC), remains listed on the New York Stock Exchange.
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