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Slideshow Preferred Stock Offerings

By Preferred Stock Channel Staff, updated Saturday, April 4, 4:09 PM

Slide #375. 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 a financial holding company. Through its subsidiaries, Co. provides a range of banking, investing, asset management and other financial and risk management products and services. Co.'s segments include: Consumer Banking, which provides credit, banking and investment products and services; Global Wealth & Investment Management, which provides investment management, brokerage, banking and retirement products; Global Banking, which provides lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services; and Global Markets, which provides sales and trading services and research services.

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, BAC.PRB, BAC.PRK, BAC.PRM, BAC.PRN


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Name:  Bank of America Corp
Website:  www.bankofamerica.com
Sector:  Banking & Savings
Number of ETFs Holding BAC:  101 (see which ones)
Total Market Value Held by ETFs:  $13,130,303,459.25
Total Market Capitalization:  $172,563,000,000
% of Market Cap. Held by ETFs:  7.61%
 

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