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Fleet Capital Trust IX, 6.00% TruPS Trust Preferred Securities
Ticker Symbol: FBF-N* CUSIP: 33889Y201 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/25/2012
Security has been Called for: Wednesday, July 25, 2012
Jun. 22, 2012-- Bank of America Corporation announced it has submitted redemption notices for 11 trust preferred securities (including 5 exchange-traded securities) and including Fleet Capital Trust IX, 6.00% TruPS Trust Preferred Securities, Series D, to the property trustee for each trust, which will result in the redemption of all of the trust preferred securities of each such trust on July 25, 2012. The five exchange-traded trust preferred securities will be redeemed at the applicable redemption price (100% of the liquidation preference), 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, and not pursuant to redemption provisions relating to the determination of the occurrence of a “Capital Treatment Event.” Bank of America has received all necessary approvals for these redemptions. These redemptions will be funded with excess liquidity.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Fleet Capital Trust IX, 6.00% Trust Preferred Securities (TruPS), liquidation amount $25 per share, guaranteed by FleetBoston Financial Corp. (NYSE: FBF) (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 7/31/2008 at $25 per share plus accrued and unpaid dividends, maturing 8/01/2033, distributions of 6.00% ($1.50) 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. 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 6.00% Junior Subordinated Deferrable Interest Debentures due 8/01/2033 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. FleetBoston Financial Corp. was acquired by Bank of America (NYSE: BAC) on April 1, 2004.
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Go to Parent Company's Record (BAC)
IPO - 7/28/2003 - 7.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $175.0 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
Kevin Stitt
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980-386-5667
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| Toll Free Phone Number |
800-299-2265 |
| CEO - Brian T. Moynihan |
CFO - Charles H. Noski |
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