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Bank of America, 8.20% Dep Shares Non-Cumulative Preferred Stock, Series H
Ticker Symbol: BAC-H* CUSIP: 060505765 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/01/2013
Security has been Called for: Wednesday, May 1, 2013
Mar 14, 2013 -- Bank of America today announced that the company’s Board of Directors authorized the repurchase of up to $5.0 billion of common stock and the redemption of approximately $5.5 billion in preferred stock. The company’s Board of Directors also approved the redemption of all the outstanding shares of two series of the company’s preferred stock. The 8.20% Non-Cumulative Preferred Stock, Series H, will be redeemed on May 1, 2013, and the 8.625% Non-Cumulative Preferred Stock, Series 8, will be redeemed on May 28, 2013. The redemption price for each of these preferred stock series will be 100 percent of the liquidation preference per share, as specified in the company’s certificate of incorporation. Notice of redemption for each series, including notice to holders of depositary shares representing fractional interests in each redeemed series of preferred stock, will be sent on or around April 1, 2013.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Bank of America, 8.20% Depositary Shares each representing a 1/1000th interest in a share of 8.20% Non-Cumulative Preferred Stock, Series H, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 5/1/2013 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 8.20% ($2.05) per annum are paid quarterly on 2/1, 5/1, 8/1 & 11/1 to holders of record on the record date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by the preferred are eligible for the 15% tax rate on dividends under normal holding restrictions and are also eligible for the dividends received deduction for corporate holders (see page S-30 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (BAC)
IPO - 5/21/2008 - 108.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: BAKMP Changed: 5/28/2008
Market Value $2.7 Billion
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Address and Phone Numbers |
Address: 100 North Tryon Street, Charlotte, NC 28255 |
Main Phone Number |
704-386-5681 |
Fax Number |
980-386-6699 |
Investor Relations
Kevin Stitt
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980-386-5667
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Toll Free Phone Number |
800-299-2265 |
CEO - Brian T. Moynihan |
CFO - Charles H. Noski |
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