The investment-grade notes are due 2028

Davis Polk advised the lead manager and sole bookrunner in connection with an SEC-registered offering by Bank of America Corporation of C$350 million aggregate principal amount reopening of 3.615% fixed-to-floating-rate senior notes due March 2028. The notes issued in the reopening have the same terms as, and constitute a single series with, the C$1.5 billion aggregate principal amount of 3.615% fixed-to-floating-rate senior notes due March 2028 issued on March 16, 2022. The notes were settled through CDS Clearing and Depository Services Inc. and offered in Canada to qualified purchasers on a private placement basis.

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

The Davis Polk corporate team included partner Christopher S. Schell, counsel Michael J. Russo and associate Nicollette Farkas. Partner Po Sit and associate Spencer Pan provided tax advice. All members of the Davis Polk team are based in the New York office.