Filed Pursuant to Rule 433
Registration No. 333-224523
BANK OF AMERICA CORPORATION
MEDIUM-TERM NOTES, SERIES N
$500,000,000
FLOATING RATE SENIOR NOTES, DUE JULY 2024
FINAL TERM SHEET
Dated July 18, 2018
| Issuer: | Bank of America Corporation | |
| Ratings of this Series: | A3 (Moody’s)/A- (S&P)/A+ (Fitch) | |
| Title of the Series: | Floating Rate Senior Notes, due July 2024 (the “Notes”) | |
| Aggregate Principal Amount Initially Being Issued: | $500,000,000 | |
| Issue Price: | 100% | |
| Net Proceeds to Issuer | $498,250,000 | |
| Trade Date: | July 18, 2018 | |
| Settlement Date: | July 23, 2018 (T+3) | |
| Maturity Date: | July 23, 2024 | |
| Ranking: | Senior | |
| Minimum Denominations: | $2,000 and multiples of $1,000 in excess of $2,000 | |
| Day Count Fraction: | Actual/360 | |
| Base Rate: | Three-Month U.S. dollar LIBOR (Reuters Page LIBOR01) | |
| Spread: | 96 basis points | |
| Interest Payment Dates and Interest Reset Dates: | January 23, April 23, July 23 and October 23 of each year, beginning October 23, 2018, subject to adjustment in accordance with the modified following business day convention (adjusted). | |
| Business Days: | New York/Charlotte/London | |
| Interest Periods: | Quarterly | |
| Interest Determination Dates: | Second London banking day prior to applicable Interest Reset Date | |
| Listing: | None | |
| Lead Manager and Sole Book-Runner: | Merrill Lynch, Pierce, Fenner & Smith Incorporated | |
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| Senior Co-Managers: | ABN AMRO Securities (USA) LLC BBVA Securities Inc. BMO Capital Markets Corp. BNY Mellon Capital Markets, LLC Capital One Securities, Inc. Citizens Capital Markets, Inc. Credit Agricole Securities (USA) Inc. Danske Markets Inc. HSBC Securities (USA) Inc. ICBC Standard Bank Plc ING Financial Markets LLC Lloyds Securities Inc. Mizuho Securities USA LLC nabSecurities, LLC Natixis Securities Americas LLC NatWest Markets Securities Inc. Rabo Securities USA, Inc. Santander Investment Securities Inc. Scotia Capital (USA) Inc. SG Americas Securities, LLC SMBC Nikko Securities America, Inc. Standard Chartered Bank UniCredit Capital Markets LLC Westpac Capital Markets LLC | |
| Junior Co-Managers: | Blaylock Van, LLC C.L. King & Associates, Inc. Mischler Financial Group, Inc. Siebert Cisneros Shank & Co., L.L.C. | |
| CUSIP: | 06051GHK8 | |
| ISIN: | US06051GHK85 | |
| Concurrent Offerings: | $2,500,000,000 3.864% Fixed/Floating Rate Senior Notes, due July 2024
$3,000,000,000 4.271% Fixed/Floating Rate Senior Notes, due July 2029
The settlement of the Notes is not contingent on the settlement of either of the concurrent offerings. | |
| Optional Redemption: | The Issuer may redeem the Notes, at its option, in whole, but not in part, on July 23, 2023 upon at least 10 business days’ but not more than 60 calendar days’ prior written notice to holders of the Notes, at a redemption price equal to 100% of the principal amount of the Notes being redeemed, plus accrued and unpaid interest, if any, thereon to, but excluding, the redemption date.
Notwithstanding the foregoing, any interest on Notes being redeemed that is due and payable on an Interest Payment Date falling on or prior to a redemption date for such Notes will be payable on such Interest Payment Date to holders of such Notes being redeemed as of the close of business on the relevant record date according to the terms of the Notes and the Senior Indenture. Unless the Issuer defaults on payment of the redemption price, interest will cease to accrue on the Notes on the redemption date. | |
Bank of America Corporation (the “Issuer”) has filed a registration statement (including a prospectus supplement, and a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read those documents and the other documents that the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the lead manager will arrange to send you the pricing supplement, the prospectus supplement, and the prospectus if you request them by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated, toll free at 1-800-294-1322. You may also request copies by e-mail from fixedincomeir@bankofamerica.com or dg.prospectus_requests@baml.com.
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