Bank of America Joins Issuance Rush With $7 Billion of Bonds

Bank of America Corp. priced $7 billion sale of investment-grade bonds, adding to a flurry of offerings by major Wall Street banks.

The three-part deal entailed six-year fixed- and floating-rate notes as well as an 11-year fixed-rate security, according a person with direct knowledge of the matter. The longest-dated note will yield 0.78 percentage point above Treasuries, compared with initial talk of about 1 percentage point, said the person, who asked not to be identified because discussions are private.