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Bank of America, Floating Rate Dep Shares Non-cumul Preferred Stock, Series E
Ticker Symbol: BAC-E CUSIP: 060505815 Exchange: NYSE
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Bank of America, Floating Rate Depositary Shares each representing a 1/1,000 interest in a share of Floating Rate Non-cumulative Preferred Stock, Series E, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 11/15/2011 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Floating rate non-cumulative distributions are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the date fixed by the board, not more than 30 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). The floating rate distributions will be paid at a rate per year equal to the greater of the three-month LIBOR plus 0.35% or 4.00% per annum. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-21 of the prospectus for further information). In regards to 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)
Notes: March 31, 2023 -- Bank of America Corporation ("BAC") (NYSE: BAC), BofA Finance LLC ("BofA Finance") and certain other BAC-affiliated issuers announce its expectation that, on the first London banking date after June 30, 2023 (the "LIBOR Replacement Date"), the CME Term SOFR Reference Rate published for the one- or three-month tenor (that corresponds to the applicable USD LIBOR tenor), as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof) ("CME Term SOFR"), The tenor spread adjustment for CME Term SOFR with respect to the following tenors of USD LIBOR, as set forth in the LIBOR Act and the LIBOR Rule, is: One Month 0.11448 %, Three Months 0.26161 %
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IPO - 11/1/2006 - 74.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: BACXO Changed: 11/13/2006
Market Value $ Million
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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: Bank of America Corporate Center, 100 North Tryon Street, Charlotte, NC 28255 |
| Main Phone Number |
704-386-5681 |
| Fax Number |
980-386-6699 |
| Investor Relations
Jonathan G. Blum
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212-449-3112
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| Toll Free Phone Number |
800-299-2265 |
| CEO - Brian T. Moynihan |
CFO - Alastair Borthwick |
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