Summary by Futu AI
Bank of America Corporation (BAC) has announced the preliminary pricing supplement for its Fixed Rate Callable Notes, due May 30, 2029. The notes, which are senior unsecured debt securities, are set to price on May 28, 2024, and will mature on May 30, 2029. They will accrue interest at a fixed rate of 5.65% per annum, with interest payments made semi-annually starting November 30, 2024. BAC retains the right to redeem all notes on November 30, 2024, and on each subsequent Call Date, at 100% of the principal amount plus any accrued and unpaid interest. The notes, with a CUSIP number of 06055JER6, will be issued in minimum denominations of $1,000 and will not be listed on any securities exchange. The offering is not FDIC insured, not bank guaranteed, and may lose value...Show More