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Bank of America increases maximum new notes amounts in previously announced exchange offers.

M2 EQUITYBITES-December 22, 2017-Bank of America increases maximum new notes amounts in previously announced exchange offers

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Bank of America Corporation has announced the increase of the maximum principal amounts of each series of new fixed/floating rate senior notes issuable in its previously announced private offers for eligible holders of certain of the Corporation's outstanding debt securities to exchange existing notes for new notes in two categories of exchange offers, on the terms and conditions set forth in the confidential offering memorandum, the company said.

The Corporation has increased the maximum principal amount of New Notes issuable in (i) all the Exchange Offers to USD 12,000,000,000, (ii) the first category of Exchange Offers to USD 6,000,000,000, and (iii) the second category of Exchange Offers to USD 6,000,000,000. Because the amount of New Notes issuable in exchange for all validly tendered and not validly withdrawn Existing Notes at or prior to 5 p.m., New York City time, on December 15, 2017 (the "Early Participation Date") in each category of Exchange Offers would exceed the maximum New Notes amounts, as increased, acceptance of the Existing Notes for exchange in each category of Exchange Offers will be subject to proration as described in the Offering Memorandum.

In addition, the Corporation does not expect to accept for exchange the series of Existing Notes that follow the applicable prorated series of Existing Notes in either category of Exchange Offers.

The Corporation has exercised the Early Settlement Election (as described in the Offering Memorandum) and accepted for exchange Existing Notes validly tendered and not validly withdrawn at or prior to the Early Participation Date as set forth in the tables below. Any validly tendered Existing Notes not accepted for exchange due to proration will be returned promptly to Eligible Holders.

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Publication:M2 EquityBites (EQB)
Date:Dec 22, 2017
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