Bank of America Corporation Announces Fallback Rate (CORRA) as Substitute Base Rate for Certain Outstanding Debt Securities Linked to the Canadian dollar Bankers' Acceptance Rate (CDOR) Af...
Bank of America Corporation (BAC)
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Source: Yahoo! Finance
fixed-to-floating rate debt securities, listed in Annexes 1, 2 and 3 to this press release for which the Canadian dollar Bankers' Acceptance Rate ("CDOR"), which is also known as the Canadian Dollar Offered Rate, for an index maturity of three months ("Three-Month CDOR") serves as the base rate used or to be used in calculating or determining applicable interest payments (the "CDOR Securities"). On May 16, 2022 , Refinitiv Benchmark Services (UK) Limited ("RBSL"), the administrator of CDOR, announced that the calculation and publication of all remaining CDOR tenors, including Three-Month CDOR, will permanently cease immediately following a final publication on Friday, June 28, 2024 BAC is announcing that, on the first Toronto banking day after June 28, 2024 (the "CDOR Replacement Date"), Fallback Rate (CORRA) published for a three-month tenor, as calculated and provided by Bloomberg Index Services Limited ("BISL") (or any successor provider thereof) ("Three-Month Fallback Rate (CORR
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