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Bank of America, 6.50% Dep Shares Non-Cumulative Preferred Stock Series Y
Ticker Symbol: BAC-Y     CUSIP: 060505310     Exchange: NYSE
Security Type:   Traditional Preferred Stock

QUANTUMONLINE.COM SECURITY DESCRIPTION:  Bank of America Corp. 6.50% Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Preferred Stock, Series Y, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 1/27/2020 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 6.50% per annum ($1.6250 per annum or $0.40625 per quarter) will be paid quarterly on 1/27, 4/27, 7/27 & 10/27 to holders of record on the record date that will be the first day of the calendar month in which the payment date falls or such other record date fixed by the board, not more than 60 days or less than 10 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. This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). 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-11 of the prospectus for further information). This security was rated as Ba3 by Moody’s and BB by S&P at the date of its IPO. In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, 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.
Stock
Exchange
Cpn Rate
Ann Amt
LiqPref
CallPrice
Call Date
Matur Date
Moodys/S&P
Dated
Distribution Dates 15%
Tax Rate
NYSE
Chart
6.50%
$1.625
$25.00
$25.00
1/27/2020
None
Ba2 / BB
7/16/15
1/27, 4/27, 7/27 & 10/27
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
Yes

Goto Parent Company's Record (BAC)

IPO - 1/20/2015 - 40.00 Million Shares @ $25.00/share.    Link to IPO Prospectus
Previous Ticker Symbol: BKMRP    Changed: 1/28/15
Market Value $ 1 Billion

Company's Online Information Links
HOME PAGE:     http://www.bankofamerica.com/
Company's Investor Relations Information Goto Investor Relations Information
Company's Online News Releases Goto News Releases
Online Company Profile Goto Online Profile

Company's Online SEC EDGAR Filings
Company's SEC EDGAR Filings Goto SEC Filings

Company's Email Address Links
Email Address i_r@bankofamerica.com

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   Jonathan G. Blum 212-449-3112
Toll Free Phone Number 800-299-2265
CEO - Brian T. Moynihan CFO - Bruce R. Thompson

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