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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Friday, September 22, 7:36 AM

Slide #274. Bank of America Corporation Preferred Stock Offering

Company: Bank of America Corporation (NYSE:BAC)
Date announced: 5/21/2013
Preferred Stock Offering Details: Bank of America Corporation today announced an underwritten public offering of depositary shares, each representing a 1/25th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series U, with a liquidation preference of $25,000 per share (equivalent to $1,000 per depositary share). BofA Merrill Lynch will serve as sole book-running manager for the offering. Bank of America intends to use any net proceeds it receives from the sale of the depositary shares to redeem its outstanding 7.25% Non-Cumulative Preferred Stock, Series J, 6.70% Noncumulative Perpetual Preferred Stock, Series 6, and 6.25% Noncumulative Perpetual Preferred Stock, Series 7. The redemption price for each of these preferred stock series will be 100 percent of the liquidation preference per share plus declared and unpaid dividends, as specified in the company's certificate of incorporation. Notice of the redemption for each series, including applicable notice to holders of depositary shares representing fractional interests in the redeemed series of preferred stock, will be sent to holders at a future date in accordance with the company's certificate of incorporation.

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. serves individual consumers, small- and middle-market businesses, institutional investors, corporations and governments with a range of banking, investing, asset management and other financial and risk management products and services. Co. provides its services and products through four segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets. As of Dec 31 2016, Co. had total assets of $2.19 trillion and total deposits of $1.26 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, BAC.PRA


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Name:  Bank of America Corp.
Website:  www.bankofamerica.com
Sector:  Banking & Savings
Number of ETFs Holding BAC:  104 (see which ones)
Total Market Value Held by ETFs:  $21,076,441,088
Total Market Capitalization:  $244,885,000,000
% of Market Cap. Held by ETFs:  8.61%
 

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