Annual report pursuant to Section 13 and 15(d)

Long-term Debt (Tables)

v3.19.3.a.u2
Long-term Debt (Tables)
12 Months Ended
Dec. 31, 2019
Debt Disclosure [Abstract]  
Balance of Long-term Debt The table below presents the balance of long-term debt at December 31, 2019 and 2018, and the related contractual rates and maturity dates as of December 31, 2019.
 
 
 
 
 
 
 
 
 
 
 
 
 
Weighted-average Rate
 
 
 
 
 
 
December 31
(Dollars in millions)
 
Interest Rates
 
Maturity Dates
 
2019
 
2018
Notes issued by Bank of America Corporation (1)
 
 
 
 
 
 
 
 
 

 
 

Senior notes:
 
 
 
 
 
 
 
 
 

 
 

Fixed
3.30
%
 
0.25 - 8.05

%
 
2020 - 2050
 
$
140,265

 
$
120,548

Floating
1.81
 
 
0.25 - 6.68

 
 
2020 - 2044
 
19,552

 
25,574

Senior structured notes
 
 
 
 
 
 
 
 
16,941

 
13,815

Subordinated notes:
 
 
 
 
 
 
 
 
 
 
 
Fixed
4.89
 
 
2.94 - 8.57

 
 
2021 - 2045
 
21,632

 
20,843

Floating
2.74
 
 
2.56 - 2.89

 
 
2022 - 2026
 
782

 
1,742

Junior subordinated notes:
 
 
 
 
 
 
 
 
 
 
 
Fixed
6.71
 
 
6.45 - 8.05

 
 
2027 - 2066
 
736

 
732

Floating (2)
2.71
 
 
2.71

 
 
2056
 
1

 
1

Total notes issued by Bank of America Corporation
 
 
 
 
 
 
 
 
199,909

 
183,255

Notes issued by Bank of America, N.A.
 
 
 
 
 
 
 
 
 

 
 

Senior notes:
 
 
 
 
 
 
 
 
 

 
 

Fixed
3.34
 
 
3.34

 
 
2023
 
508

 

Floating
2.18
 
 
1.99 - 2.51

 
 
2020 - 2041
 
6,519

 
1,770

Subordinated notes
6.00
 
 
6.00

 
 
2036
 
1,744

 
1,617

Advances from Federal Home Loan Banks:
 
 
 
 
 
 
 
 
 
 
 
Fixed
4.98
 
 
0.01 - 7.72

 
 
2020 - 2034
 
112

 
130

Floating
1.79
 
 
1.77 - 1.84

 
 
2020
 
2,500

 
14,751

Securitizations and other BANA VIEs (3)
 
 
 
 
 
 
 
 
8,373

 
10,326

Other
 
 
 
 
 
 
 
 
402

 
442

Total notes issued by Bank of America, N.A.
 
 
 
 
 
 
 
 
20,158

 
29,036

Other debt
 
 
 
 
 
 
 
 
 

 
 

Structured liabilities
 
 
 
 
 
 
 
 
20,442

 
16,483

Nonbank VIEs (3)
 
 
 
 
 
 
 
 
347

 
618

Total other debt
 
 
 
 
 
 
 
 
20,789

 
17,101

Total long-term debt
 
 
 
 
 
 
 
 
$
240,856


$
229,392

(1) 
Includes total loss-absorbing capacity compliant debt.
(2) 
Includes amounts related to trust preferred securities. For more information, see Trust Preferred Securities in this Note.
(3) 
Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.
Schedule of Maturities of Long-term Debt
The table below shows the carrying value for aggregate annual contractual maturities of long-term debt as of December 31, 2019. Included in the table are certain structured notes issued by the Corporation that contain provisions whereby the borrowings are redeemable at the option of the holder (put options) at specified dates prior to maturity. Other structured notes have coupon or repayment terms linked to the performance of debt or equity securities, indices, currencies or commodities, and the maturity may be accelerated based on the value of a referenced index or security. In both cases, the Corporation or a subsidiary may be required to settle the obligation for cash or other securities prior to the contractual maturity date. These borrowings are reflected in the table as maturing at their contractual maturity date.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Long-term Debt by Maturity
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(Dollars in millions)
2020
 
2021
 
2022
 
2023
 
2024
 
Thereafter
 
Total
Bank of America Corporation
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
$
9,312

 
$
15,978

 
$
14,875

 
$
23,045

 
$
17,236

 
$
79,371

 
$
159,817

Senior structured notes
822

 
453

 
2,232

 
288

 
547

 
12,599

 
16,941

Subordinated notes

 
360

 
386

 

 
3,213

 
18,455

 
22,414

Junior subordinated notes (1)

 

 

 

 

 
737

 
737

Total Bank of America Corporation
10,134


16,791


17,493


23,333


20,996


111,162


199,909

Bank of America, N.A.
 
 
 
 
 
 
 
 
 
 
 
 
 
Senior notes
3,000

 
3,499

 

 
509

 

 
19

 
7,027

Subordinated notes

 

 

 

 

 
1,744

 
1,744

Advances from Federal Home Loan Banks
2,509

 
2

 
3

 
1

 

 
97

 
2,612

Securitizations and other Bank VIEs (2)
3,099

 
4,080

 
1,185

 
9

 

 

 
8,373

Other
134

 
55

 

 
130

 

 
83

 
402

Total Bank of America, N.A.
8,742


7,636


1,188


649




1,943


20,158

Other debt
 
 
 
 
 
 
 
 
 
 
 
 
 
Structured liabilities
5,275

 
1,884

 
1,057

 
1,372

 
745

 
10,109

 
20,442

Nonbank VIEs (2)

 

 

 
1

 

 
346

 
347

Total other debt
5,275


1,884


1,057


1,373


745


10,455


20,789

Total long-term debt
$
24,151


$
26,311


$
19,738


$
25,355


$
21,741


$
123,560


$
240,856

(1) 
Includes amounts related to trust preferred securities. For more information, see Trust Preferred Securities in this Note.
(2)  
Represents liabilities of consolidated VIEs included in total long-term debt on the Consolidated Balance Sheet.