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Bank of America Announces Redemption of CHF 375 Million of 0.2525% Senior Notes, Due June 12, 2026
Prnewswire· 2025-05-23 11:00
Core Viewpoint - Bank of America Corporation will redeem all outstanding CHF 375,000,000 principal amount of its 0.2525% Senior Notes on June 12, 2025, which are due on the same date in 2026 [1][2]. Group 1: Redemption Details - The redemption price for the Notes will be CHF 5,000 per CHF 5,000 Calculation Amount, plus accrued and unpaid interest up to the redemption date [2]. - Interest on the Notes will cease to accrue on the redemption date of June 12, 2025 [2]. Group 2: Payment and Trading Information - Payment of the redemption price will follow the procedures of SIX SIS AG, with UBS AG acting as the Principal Swiss Paying Agent for the Notes [3]. - The last day of trading for the Notes on the SIX Swiss Exchange will be June 10, 2025 [3]. Group 3: Company Overview - Bank of America is a leading financial institution providing a full range of banking, investing, asset management, and risk management products and services [4]. - The company serves approximately 69 million consumer and small business clients through around 3,700 retail financial centers and approximately 15,000 ATMs [4]. - Bank of America is a global leader in wealth management, corporate and investment banking, serving clients across the United States and more than 35 countries [4].
UBS Group Gets Regulatory Nod to Sell Stake in CSS China Unit
ZACKS· 2025-03-13 18:00
Group 1 - UBS Group AG received regulatory approval to sell its 36% stake in Credit Suisse Securities to Beijing State-Owned Assets Management, reducing its ownership to 15% [1][2] - The sale is part of UBS's strategy to integrate its operations in China, addressing organizational challenges following the acquisition of Credit Suisse [3] - UBS aims to optimize its onshore platforms in China and continue investing in the market, with a focus on enhancing its investment banking and asset management businesses [4] Group 2 - Following the merger with Credit Suisse in May 2024, UBS has made significant progress in integrating operations, transferring over 90% of wealth management client accounts outside of Switzerland onto UBS platforms [5] - The company is positioned to enhance client experience and achieve $13 billion in gross cost savings by the end of 2026 [6] Group 3 - Over the past six months, UBS shares have increased by 7.2%, while the industry has seen an 8.1% growth [7]