We advised the underwriters on the investment-grade debt offering based on the Secured Overnight Financing Rate

Davis Polk advised the lead manager, sole book-runner and representative of the several underwriters in connection with an SEC-registered offering by Bank of America Corporation of $3.25 billion aggregate principal amount of 2.572% fixed-to-floating-rate senior notes, due October 2032. During the floating-rate period, the notes bear interest by reference to SOFR, compounded daily over each quarterly interest payment period.

The Davis Polk tax team also advised Bank of America Corporation in connection with the foregoing offering.

The Davis Polk corporate team included partners John G. Crowley and John Banes and associate Michael J. Russo. Partner Po Sit provided tax advice. All members of the Davis Polk team are based in the New York office.