Bank of America Corp | 4.375% Depositary Shares Non-Cumul Preferred Stock Ser NN (BAC.PRO)
Prospectus excerpt: Bank of America Corporation is offering 44,000,000 depositary shares, each representing a 1/1,000th interest in a share of our perpetual 4.375% Non-Cumulative Preferred Stock, Series NN, $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 for the Preferred Stock, to a proportional fractional interest in all rights and preferences of the Preferred Stock represented by the depositary share. Holders of the Preferred Stock will be entitled to receive, only when, as, and if declared by our board of directors or a duly authorized committee thereof, and to the extent we have funds legally available for the payment of dividends, non-cumulative cash dividends, payable in arrears at a fixed rate equal to 4.375% per annum (equivalent to $1.09375 per depositary share per annum).
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Bank of America is a bank 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 includes lending-related products and services, integrated working capital management and treasury solutions; Global Markets, which provides sales and trading services and research services; and All Other, which includes asset and liability management activities. Preferreds: BACRP, MER.PRD, MER.PRE, MER.PRF, BAC.PRV, BAC.PRX, CFC.PRA, BAC.PRU, IPB, BML.PRN, BML.PRG, BML.PRH, BML.PRO, BAC.PRZ, BML.PRI, BML.PRJ, BAC.PRD, BAC.PRE, CFC.PRB, MER.PRK, BML.PRL, MER.PRM, MER.PRP, BAC.PRI, BAC.PRJ, BAC.PRL, BML.PRQ, BAC.PRH, BAC.PRW, BAC.PRY, BAC.PRC, BAC.PRA, BAC.PRB, BAC.PRK, BAC.PRM, BAC.PRN, BAC.PRO, BAC.PRP, BAC.PRQ, BAC.PRS Open the BAC Information Page » |
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