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BAC Capital Trust VIII, 6.00% Capital Securities
Ticker Symbol: BAC-Z* CUSIP: 05518T209 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/15/2016
Security has been Called for: Monday, August 15, 2016
7/13/2016 -- Bank of America Corporation announced today that it will submit redemption notices to the property trustee for each trust listed in the table below, which will result in the redemption of all the trust preferred securities of each trust on August 15, 2016. The trust preferred securities will be redeemed at the applicable redemption price (as a percentage of the liquidation preference) listed in the table below, plus accrued and unpaid distributions to the redemption date. All of the redemptions are being effected under the optional redemption provisions applicable to the trust preferred securities of each trust.
The redemptions are being made pursuant to Bank of America's capital plan. Bank of America has received all necessary approvals for these redemptions.
CUSIP
Trust
Title of Security
NYSE Ticker Symbol
Aggregate Liquidation Pref. Outstanding
Redemption Price
Accrued Distributions per Security
Trustee/ Paying Agent
05518T209
BAC Capital Trust VIII
6% Capital Securities
BAC PrZ
$523,775,000 ($25 per Security)
100%
0.3333333
The Bank New York Mellon
22238E206
Countrywide Capital IV
6.75% Trust Preferred Securities
CFC PrA
$500,000,000 ($25 per Security)
100%
0.2062500
Deutsche Bank Trust Company Americas
59024T203
Merrill Lynch Capital Trust II
Trust Preferred Securities
MER PrM
$950,000,000 ($25 per Security)
100%
0.2687500
The Bank of New York Mellon
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QUANTUMONLINE.COM SECURITY DESCRIPTION: BAC Capital Trust VIII, 6.00% Capital Securities, guaranteed by Bank of America Corp. (NYSE: BAC) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), liquidation amount $25 per share, redeemable at the issuer's option on or after 8/25/2010 at $25 per share plus accrued and unpaid dividends, maturing 8/25/2035, distributions of 6.00% ($1.50) per annum are paid quarterly on 2/25, 5/25, 8/25 & 11/25 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 6% Junior Subordinated Deferrable Interest Notes due 8/25/2035 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (BAC)
IPO - 8/18/2005 - 20.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: BACTM Changed: 9/19/2005
Market Value $500.0 Million
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
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 - Bruce R. Thompson |
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