Bank of America Corp has filed a preliminary pricing supplement for fixed-rate callable notes due May 9, 2028, as part of its ongoing strategy to diversify funding sources. This filing, dated November 5, 2026, highlights the bank's commitment to enhancing its capital structure and providing investors with new investment opportunities.

Callable notes are a type of debt security that allows the issuer to redeem them before maturity, providing flexibility in managing interest rate risk. The notes will accrue interest at a fixed rate of 5.10% per annum, with interest payments made monthly starting December 9, 2026. The notes will not be listed on any securities exchange, and the minimum denomination is set at $1,000.

Background

Bank of America Corp, incorporated in Delaware, operates in the national commercial banks sector (SIC 6021). The company is a large accelerated filer and trades on the New York Stock Exchange under the ticker symbol BAC, among others. The bank has a significant presence in the financial services industry, providing a wide range of banking and financial products.

What the Filing Says

The filing states, "The notes are senior unsecured debt securities issued by Bank of America Corporation. All payments and the return of the principal amount on the notes are subject to our credit risk." It also specifies that the notes will be issued in minimum denominations of $1,000 and will not be FDIC insured.

Impact

This offering may affect various stakeholders, including investors looking for fixed-income opportunities and competitors in the national commercial banks sector. The issuance of callable notes could lead to increased competition as other banks may respond with similar products to attract investors.

What's Next

The filing does not say what happens next.