PreferredStockChannel
Bank of America Corp | Floating Rate Non-Cumulative Preferred Stock, Series E (BAC.PRE)

Prospectus excerpt:  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 »

Series:E
Alternate symbology:BAC-E, BAC-PE, BACprE
Redeemable?:Yes
Call Date:11/15/2011 (Now Trading Post Call Date)
Perpetual?:Yes
Cumulative?:No
Shares Offered:74,000,000
Overallotment:11,100,000
Liquidation Preference:$25
Recent Market Price:$21.67
Discount to Liquidation Preference:
(More Preferreds Trading at a Discount »)
$-3.33 (-13.32%)
Annualized Dividend:1.02224
Recent Ex-Date:7/28/2022
Current Yield:4.72%
Original Coupon:Greater of three-month LIBOR plus a spread of 0.35%, and 4.00%
Pay Period:Quarterly
Pay Dates:15-Feb, 15-May, 15-Aug, 15-Nov
CDx3 Compliance Rating: Learn BAC.PRE's Rating
Bank of America is a bank a financial holding company. Through its subsidiaries, Co. provides banking, investing, asset management and other financial and risk management products and services. Co. 's segments are: Consumer Banking, which provides credit, banking and investment products and services; Global Wealth and Investment Management, which provides investment management, brokerage, banking and retirement products; Global Banking, which provides a range of 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


Open the BAC Information Page »
Name: 
Bank of America Corp
Website: 
www.bankofamerica.com
Sector: 
Banking & Savings
Number of ETFs Holding BAC: 
115 (see which ones)
Total Market Value Held by ETFs: 
$28,307,589,862.53
Total Market Capitalization: 
$272,555,000,000
% of Market Cap. Held by ETFs: 
10.39%

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