Bank of America

Investor Relations

Fixed Income Overview

Fixed Income Overview

Fixed Income Investor Materials

The fixed income investor materials below are intended to assist current and potential creditors and counterparties in analyzing Bank of America Corporation. They include the most recent quarterly earnings presentation, as well as additional information on the firm’s strategy, franchise, lines of business, funding footprint, recent debt issuances, organizational structure and credit ratings. The materials are updated each quarter upon the release of the firm’s results.

Corporate Structure

The document below shows the corporate structure of Bank of America Corporation and highlights select major operating subsidiaries.

10/16/19

Recent Notable Debt and Preferred Stock Issuances

The document below lists Bank of America’s recent long-term, unsecured, benchmark-sized vanilla debt and preferred stock issuances.

Recent Debt Exchange

The document below is Form 8937 for the BAC senior debt exchange which settled on 12/20/17.

01/29/18

Summary of Bank of America Credit Ratings

As of October 15, 2019

Bank of America Corporation
  Moody's Standard & Poor's Fitch
Outlook Stable Stable Stable
Long-term senior A2 A- A+
Short-term P-1 A-2 F1
Subordinated Baa1 BBB+ A
Trust preferred Baa2 BBB- BBB
Preferred stock Baa3 BBB- BBB-
Bank of America, N.A.
  Moody's Standard & Poor's Fitch
Outlook Stable Stable Stable
Deposits Aa2 A+ AA
Long-term senior Aa2 A+ AA-
Short-term P-1 A-1 F1+
BofA Securities, Inc. | Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Moody's Standard & Poor's Fitch
Outlook n/a Stable Stable
Long-term senior n/a A+ AA-
Short-term n/a A-1 F1+
Merrill Lynch International | BofA Securities Europe SA
  Moody's Standard & Poor's Fitch
Outlook n/a Stable Stable
Long-term senior n/a A+ A+
Short-term n/a A-1 F1

For a pdf version of the Credit Ratings Summary, please click here.

For Bank of America Corporation's subsidiary credit ratings, please see the Credit Ratings page.

Resolution Related Considerations

Below are important financial considerations for unsecured debt holders of Bank of America Corporation:

Bank of America Corporation is required to maintain minimum amounts of eligible long-term debt for the purpose of absorbing losses in a resolution proceeding under either the U.S. Bankruptcy Code or Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 ("Financial Reform Act"). Under Bank of America Corporation's single point of entry resolution strategy, and the single point of entry recapitalization strategy preferred by the Federal Deposit Insurance Corporation under Title II of the Financial Reform Act, the value that would be distributed to holders of Bank of America Corporation's unsecured debt may not be sufficient to repay all or part of the principal amount and interest on such debt, and holders of such debt could receive no consideration at all under these resolution scenarios. Either of these resolution strategies could result in Bank of America Corporation unsecured debt holders being in a worse position and suffering greater losses than would have been the case under a different resolution strategy. The information contained on this Fixed Income Investor Relations web site is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy.

Terms of Use

The information contained on this Fixed Income Investor Relations web site is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The financial and other information that may be accessed on this Fixed Income Investor Relations web site speaks only as of the particular dates referenced in the information or the dates the information was originally issued. This information may have since become superseded as a result of later circumstances or events. Bank of America does not undertake any obligation, and disclaims any duty, to update this information. In addition, this information may contain forward-looking statements that are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those expressed in or implied by any forward-looking statement. The risks and uncertainties that could affect the company’s actual outcomes or results are discussed more fully in our most recent Annual Report on Form 10-K, as well as any updated risks and uncertainties contained in subsequent reports filed with the Securities and Exchange Commission.

Bank of America

Terms of Use

The information contained on this Investor Relations web site is provided for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities.

The financial and other information that may be accessed on this Investor Relations web site speaks only as of the particular dates referenced in the information or the dates the information was originally issued. This information may have since become superseded as a result of later circumstances or events. Bank of America does not undertake any obligation, and disclaims any duty, to update this information. In addition, this information may contain forward-looking statements that are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those expressed in or implied by any forward-looking statement. The risks and uncertainties that could affect the company's actual outcomes or results are discussed more fully in our most recent Annual Report on Form 10-K, as well as any updated risks and uncertainties contained in subsequent reports filed with the Securities and Exchange Commission.