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Bank of America, 6.375% Dep Shares Non-cumul Preferred Stock, Series 3
Ticker Symbol: BML-I* CUSIP: 060505617 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/28/2018
Security has been Called for: Tuesday, August 28, 2018
Jul. 26, 2018-- Bank of America Corporation announced today that it has submitted redemption notices for all outstanding shares of its 6.204% Non-Cumulative Preferred Stock, Series D and the corresponding depositary shares representing fractional interests in the Series D Preferred Stock, and for all outstanding shares of its 6.375% Non-Cumulative Preferred Stock, Series 3, and the corresponding depositary shares representing fractional interests in the Series 3 Preferred Stock. The Series D Depositary Shares (NYSE: BAC PrD) (CUSIP No. 060505831), each representing a 1/1,000th interest in one share of the Series D Preferred Stock, and the Series 3 Depositary Shares (NYSE: BML PrI) (CUSIP No. 060505617), each representing a 1/1,200th interest in one share of the Series 3 Preferred Stock, will be redeemed simultaneously with the redemption of the Series D Preferred Stock or the Series 3 Preferred Stock, as the case may be, in each case at a redemption price of $25 per depositary share. All 7,588,595 Series D Depositary Shares outstanding will be redeemed on the dividend payment date on September 14, 2018 for an aggregate redemption price of $189,714,875, and all 26,127,328 Series 3 Depositary Shares outstanding will be redeemed on the dividend payment date on August 28, 2018 for an aggregate redemption price of $653,183,200. ____________ Jan. 1, 2009 -- Bank of America Corporation today completed its purchase of Merrill Lynch & Co., Inc. creating a premier financial services franchise with significantly enhanced wealth management, investment banking and international capabilities.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Bank of America Corp., formerly Merrill Lynch & Co., Inc., Depositary Shares representing a 1/1200th interest in a share of 6.375% Non-Cumulative Preferred Stock, Series 3, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 11/28/2010 at $25 per depositary share plus declared and unpaid dividends, and with no stated maturity. Noncumulative distributions of 6.375% ($1.59375) per annum are paid quarterly on 2/28, 5/28, 8/28 & 11/28 to holders of record on the date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). 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. 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)
IPO - 11/15/2005 - 30.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MER-I Changed: 1/02/2009
Market Value $750.0 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: 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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