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Countrywide Capital IV, 6.75% Trust Preferred Securities
Ticker Symbol: CFC-A* CUSIP: 22238E206 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 ____________ As of 11/7/2008, Bank of America has registered CFC-A and CFC-B with the same name, ticker symbol and CUSIP number but with BAC as the guaranter. ____________ Oct. 16, 2008 -- Bank of America announced today its wholly-owned subsidiaries, Countrywide Financial Corporation and Countrywide Home Loans, Inc., together with Countrywide Capital IV and Countrywide Capital V, have notified the New York Stock Exchange of their intention to voluntarily delist certain securities. Those securities are the Countrywide Capital IV 6.75 percent Trust Preferred Securities (NYSE: CFCPRA) and the related guarantees of Countrywide Financial Corporation and Countrywide Home Loans, Inc., and the Countrywide Capital V 7 percent Capital Securities (NYSE: CFCPRB) and the related guarantees of Countrywide Financial Corporation. Following the delisting, the Countrywide issuers intend to withdraw the securities from registration with the Securities and Exchange Commission and Countrywide intends to suspend its reporting obligations under the Securities Exchange Act of 1934. The Countrywide issuers intend to withdraw the trust preferred securities and related Countrywide guarantees from listing and deregistration in connection with the previously announced intention of Bank of America to assume the obligations of Countrywide Financial Corporation and Countrywide Home Loans, Inc. under their debt securities and related guarantees, including these Countrywide guarantees, as part of the consideration for the transfer of substantially all of the assets and operations of Countrywide Financial Corporation and Countrywide Home Loans, Inc. to other subsidiaries of Bank of America. Separately, Bank of America intends to apply to the New York Stock Exchange for the listing of the trust preferred securities and related Bank of America guarantees following the assumption once in effect. The Countrywide issuers will file Form(s) 25 with the SEC on or about October 27, 2008 and expect the delisting to become effective and Countrywide's reporting obligations to be suspended 10 days after the filing. Bank of America expects the sale of Countrywide assets and the related assumption of Countrywide debt securities and related guarantees to occur around November 7, 2008, subject to receipt of necessary approvals and negotiation of appropriate agreements.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Countrywide Capital IV, 6.75% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Countrywide Financial Corp. (NYSE: CFC) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 4/11/2008 at $25 per share plus accrued and unpaid dividends, maturing 4/01/2033, distributions of 6.75% ($1.6875) per annum are paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record one business day prior to the payment date while the securities remain in book-entry form. Dividends paid by trust preferred securities are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. 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 6.75% Junior Subordinated Deferrable Interest Debentures due 4/01/2033 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. Bank of America Corporation (NYSE: BAC) today completed its purchase of Countrywide Financial Corp as of 7/1/2008.
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Go to Parent Company's Record (BAC)
IPO - 4/8/2003 - 20.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
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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