||Bank of America Corp. | Floating Rate Non-Cumulative Preferred Stock, Series E (BAC.PRE)
Bank of America Corporation is offering 74,000,000 depositary shares, each representing a 1/1,000th interest in a share of our perpetual Floating Rate Non-Cumulative Preferred Stock, Series E, $0.01 par value, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the “Preferred Stock”). Each depositary share entitles the holder, through the depository, to a proportional fractional interest in all rights and preferences of the Preferred Stock represented by the depositary share.
We may redeem the Preferred Stock on any dividend payment date on or after November 15, 2011, in whole or in part, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends.
We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors, quarterly, in arrears, on February 15, May 15, August 15, and November 15 of each year, beginning February 15, 2007, at a rate per year equal to the greater of (a) three-month LIBOR plus a spread of 0.35%, and (b) 4.00%. Dividends on the Preferred Stock will not be cumulative.
Full Prospectus PDF », BAC Page »
|Alternate symbology:||BAC-E, BAC-PE, BACprE|
|Call Date:||11/15/2011 (Now Trading Post Call Date)|
|Liquidation Preference:||$25 |
|Recent Market Price:||$21.83|
|Discount to Liquidation Preference:|
(More Preferreds Trading at a Discount »)
|Original Coupon:||Greater of three-month LIBOR plus a spread of 0.35%, and 4.00%|
|Pay Dates:||15-Feb, 15-May, 15-Aug, 15-Nov|
Bank of America is a bank and financial holding company. Through its banking and various nonbanking subsidiaries throughout the U.S. and in international markets, Co. is engaged as a financial institution that serves individual consumers, small- and middle-market businesses, institutional investors, large corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Co. operates its banking activities primarily under two charters: Bank of America, National Association, and FIA Card Services, National Association. As of Dec 31 2013, Co. had total assets of $2.10 trillion and total deposits of $1.12 trillion. |
Preferreds: BML.PRQ, BML.PRI, BML.PRN, BML.PRG, BML.PRH, CFC.PRA, BAC.PRJ, MER.PRD, MER.PRE, MER.PRF, MER.PRK, MER.PRM, MER.PRP, CFC.PRB, BAC.PRC, BAC.PRD, BAC.PRE, BAC.PRH, BAC.PRI, BAC.PRL, BAC.PRU, BAC.PRV, BAC.PRW, BAC.PRX, BAC.PRY, BAC.PRZ, BML.PRJ, BML.PRL, BML.PRO
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||Bank of America Corp.
||Banking & Savings
|Number of ETFs Holding BAC:
||74 (see which ones)
|Total Market Value Held by ETFs:
|Total Market Capitalization:
|% of Market Cap. Held by ETFs:
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