Bank of America to Redeem $2.6 Billion in Senior Bank Notes

The Charlotte-based financial giant confirmed it will pay out the full principal amount for both the 5.526% fixed-rate notes and the floating-rate series, alongside all accrued and unpaid interest up to the redemption date. Once the July 17 deadline passes, interest accrual on these securities will stop entirely.

Transactions will be processed through The Depository Trust Company, with Citibank, N.A. acting as the registrar and paying agent for the holders of the notes. This redemption removes these specific liabilities from the bank’s obligations, streamlining its debt profile before the original August 2026 due dates.