|
Countrywide Capital V, 7.00% Capital Securities
Ticker Symbol: CFC-B* CUSIP: 222388209 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/06/2018
Security has been Called for: Wednesday, June 6, 2018
Monday, April 30, 2018 -- Bank of America Corporation announced today that it has submitted 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 June 6, 2018. The trust preferred securities will be redeemed at the applicable redemption price calculated as noted in the table below (either as a percentage of the liquidation amount or at a "make-whole" redemption price*), plus accrued and unpaid distributions to, but not including, the redemption date also as noted in the table below. All of the redemptions are being effected under the optional redemption provisions applicable to the trust preferred securities of each trust. The trust preferred securities are being redeemed, along with the common securities issued by the applicable trust and held by Bank of America or its affiliates, as a result of the concurrent redemption in whole by Bank of America of its junior subordinated notes held by each trust listed in the table below which underlie the respective series of trust preferred securities. The redemptions are being made pursuant to Bank of America's capital plan. Bank of America has received all necessary approvals for these redemptions. Upon the redemption of the trust preferred securities and the extinguishment of the related junior subordinated notes issued by Bank of America, expected to occur in the second quarter of 2018, Bank of America will record a charge to other income and pretax income estimated to be approximately $800 million, subject to certain redemption price calculations at that time.
59025D207 Merrill Lynch Capital Trust III Trust Preferred Securities MER PrP $750,000,000 ($25 per Security) 100% $0.4148438 The Bank of New York Mellon
222388209 Countrywide Capital V 7% Capital Securities CFC PrB $1,495,000,000 ($25 per Security) 100% $0.1701389 Deutsche Bank Trust Company Americas ____________
1/29/2013 - The QOL user has now discovered that his previous information was incorrect and there is no call of CFC-B. ____________ 1/24/2013 -- A QOL user has informed us that CFC-B has been called for 2/4/2012. We can find no information to confirm the call but are assuming that the call information is correct. ____________ This security is possibly subject to an early call as a result of the occurrence of a tax event (see prospectus for further information) stemming from the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet. ____________ 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.
|
|
QUANTUMONLINE.COM SECURITY DESCRIPTION: Countrywide Capital V, 7.00% Capital 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 11/01/2011 at $25 per share plus accrued and unpaid dividends, and maturing 11/01/2036 which may be extended to 11/01/2066. Distributions of 7.00% ($1.75) per annum are paid quarterly on 2/1, 5/1, 8/1 & 11/1 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 five consecutive years before the alternative payment mechanism of selling common shares to pay dividends takes effect and up to ten consecutive years without giving rise to an event of default (but not beyond the maturity date). The trust's assets consist of the 7.00% Junior Subordinated Deferrable Interest Debentures due 11/01/2036 which may be extended to 11/01/2066 and that 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.
|
Go to Parent Company's Record (BAC)
IPO - 11/3/2006 - 52.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: CFCBP Changed: 11/30/2006
Market Value $1.3 Billion
|
Company's Online Information Links
|
| 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
|
212-449-3112
|
| Toll Free Phone Number |
800-299-2265 |
| CEO - Brian T. Moynihan |
CFO - Bruce R. Thompson |
Find a problem? Please use our Feedback Page or Email us.
Have you filled out our Guestbook? If not, please do.
|
|
