Bank of America has announced it will redeem on May 4, 2026 the entire €1.5 billion principal amount of its 1.776% fixed/floating rate senior notes originally maturing May 4, 2027. The decision follows the terms set out in the Amended and Restated Final Terms dated May 8, 2018 under its €65 billion Euro Medium-Term Note Program.

The notes will be redeemed at the Optional Redemption Amount of €1,000 per €1,000 calculation amount plus accrued and unpaid interest up to, but excluding, the redemption date. As May 4, 2026 falls on a non-business day, payment of the redemption price will occur on the next business day, May 5, 2026, and interest will cease to accrue on May 4.

Following redemption, Bank of America will request cancellation of the notes’ listing on the Financial Conduct Authority’s Official List and withdrawal of trading admission on the London Stock Exchange. This administrative step completes the notes’ removal from secondary markets.

Redeeming €1.5 billion of senior debt will shorten the bank’s near-term maturity profile and eliminate upcoming interest payments on these notes. The move could modestly reduce funding costs but will also draw on cash reserves or alternative funding sources.