Bank of America Announces Redemption of Euro1,750,000,000 Floating Rate Senior Notes, due March 10, 2027
MWN-AI** Summary
On March 2, 2026, Bank of America Corporation announced its plan to redeem €1,750,000,000 of its Floating Rate Senior Notes, which are set to mature on March 10, 2027. This decision comes under the provisions of the Bank of America U.S. $85 billion Euro Medium-Term Note Program. The redemption will occur on March 10, 2026, with the bank setting the redemption price at €1,000 per €1,000 principal amount, alongside any accrued and unpaid interest up to, but not including, the redemption date. Importantly, interest on these notes will cease to accrue starting on the redemption date.
To facilitate this process, payments will be made through Euroclear Bank SA/NV and Clearstream Banking, S.A. Citibank, N.A. London Branch will act as the Principal Agent, while Citibank Europe plc serves as the Registrar for the notes. Following the redemption, Bank of America intends to request the cancellation of the notes’ listing from the FCA's Official List and their withdrawal from trading on the London Stock Exchange.
Bank of America is recognized globally as a leading financial entity, providing a wide range of banking and investment services to individual consumers, businesses, and large corporations alike. The company operates with an extensive network, serving approximately 70 million clients through nearly 3,600 retail centers and 15,000 ATMs alongside robust digital banking capabilities.
This move reflects Bank of America’s strategic management of its financial obligations and reinforces its commitment to maintaining a strong balance sheet and investor relations. For further information, stakeholders are encouraged to explore announcements and updates available through the Bank of America newsroom.
MWN-AI** Analysis
Bank of America’s recent announcement concerning the redemption of €1,750,000,000 in Floating Rate Senior Notes due March 10, 2027, signals a strategic move by the institution amid evolving market conditions. The redemption, effective March 10, 2026, will see the cancellation of these notes, aligning with a broader liquidity management strategy, possibly in anticipation of changing interest rate environments.
Investors should approach this news with a nuanced understanding. The decision to redeem these notes implies that Bank of America may be looking to optimize its debt portfolio. As interest rates fluctuate, particularly in a potentially rising rate environment, redeeming floating rate notes could allow the bank to limit exposure to increasing borrowing costs, which would be beneficial in preserving overall financial health and profitability.
Additionally, with the cessation of interest accrual on the redemption date, current holders of the notes will be compensated at the optional redemption price plus accrued interest, allowing for a potential reinvestment strategy. Investors might want to consider the reallocation of funds from these notes into new fixed income opportunities or equities, depending on the risk appetite and current market valuations.
Furthermore, the impending request to cancel the listing of these notes on the FCA's Official List and the London Stock Exchange suggests that Bank of America is streamlining its operations and focusing on enhancing shareholder value by removing less strategic debt instruments from its balance sheet.
Overall, this redemption illustrates Bank of America's proactive approach to financial management. Investors keen on capitalizing on market changes should monitor the bank's next steps while assessing their investment goals accordingly. Maintaining a balanced portfolio with a mix of fixed income and growth assets remains advisable in this fluid interest rate landscape.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
CHARLOTTE, N.C., March 2, 2026 /PRNewswire/ -- Bank of America Corporation announced today that it will redeem on March 10, 2026 all €1,750,000,000 principal amount outstanding of its Floating Rate Senior Notes, due March 10, 2027 (ISIN: XS3019213654; Common Code: 301921365) (the "Notes").
The Notes were issued under the Bank of America Corporation U.S. $85,000,000,000 Euro Medium-Term Note Program. The redemption price for the Notes will be equal to the Optional Redemption Amount of €1,000 per €1,000 Calculation Amount (as specified in the applicable Final Terms dated March 5, 2025), plus accrued and unpaid interest to, but excluding, the redemption date of March 10, 2026. Interest on the Notes will cease to accrue on the redemption date.
Payment of the redemption price for the Notes will be made in accordance with the applicable procedures of Euroclear Bank SA/NV and Clearstream Banking, S.A.
Citibank, N.A., London Branch is the Principal Agent for the Notes and Citibank Europe plc is the Registrar for the Notes.
Bank of America Corporation will request the Financial Conduct Authority (the "FCA") to cancel the listing of the Notes on the Official List of the FCA and the London Stock Exchange (the "Exchange") to cancel the admission to trading on the regulated market of the Exchange as soon as practicable after the redemption date.
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 nearly 70 million clients with approximately 3,600 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital 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 4 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 more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.
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, 2025 and in any of our 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.
Investors may contact
Lee McEntire, Bank of America
Phone: 1.980.388.6780
lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America (Fixed Income)
Phone: 1.212.449.3112
jonathan.blum@bofa.com
Reporters may contact
Jocelyn Seidenfeld, Bank of America
Phone: 1.646.743.3356
jocelyn.seidenfeld@bofa.com
SOURCE Bank of America Corporation
FAQ**
What are the reasons behind Bank of America Corporation BAC's decision to redeem €1,750,000,000 in Floating Rate Senior Notes due March 10, 2027?
How will the redemption of these senior notes impact Bank of America Corporation BAC's overall financial position and liquidity?
What do the redemption terms imply for investors holding these senior notes issued by Bank of America Corporation BAC?
How might the cancellation of the listing for these notes on the FCA's Official List affect investor confidence in Bank of America Corporation BAC?
**MWN-AI FAQ is based on asking OpenAI questions about Bank of America Corporation (NYSE: BAC).
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