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Merrill Lynch Capital Trust I, 6.45% Trust Preferred Securities
Ticker Symbol: MER-K* CUSIP: 590199204 Exchange: NYSE
* NOTE: This security is no longer trading as of 10/18/2018
Security has been Called for: Thursday, October 18, 2018
October 18, 2018 -- The mandatory exchange of Merrill Lynch Capital Trust I became automatically effective before the opening on October 18, 2018. Each Trust Preferred Securities of Merrill Lynch Capital Trust I held was exchanged for $25.00 principal amount of Income Capital Obligations Notes initially due December 15, 2066 of Bank of America Corporation (as successor to Merrill Lynch & Co., Inc.). The Exchange also notifies the Securities and Exchange Commission that as a result of the above indicated conditions this security was suspended from trading on October 18, 2018. ________________ This security is possibly subject to an early call as a result of the occurrence of a regulatory 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. ____________ 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: Merrill Lynch Capital Trust I, 6.45% Trust Preferred Securities, liquidation amount $25 per share, guaranteed by Merrill Lynch & Co. Inc. (NYSE: MER) (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 12/15/2011 at $25 per share plus accrued and unpaid dividends, and maturing 12/15/2066 which may be extended to 12/15/2086. Distributions of 6.45% ($1.6125) per annum are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date which is one business day prior to the payment date while the securities remain in global security form (NOTE: the ex-dividend date is one business day prior to the record date). 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 10 consecutive years (but not beyond the maturity date). The trust's assets consist of the 6.45% Income Capital Obligation Notes due 12/15/2066, which may be extended to 12/15/2086, 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 - 12/11/2006 - 40.00 Million Shares @ $25.00 /share.
Link to IPO Prospectus
Previous Ticker Symbol: MLGCP Changed: 1/11/2007
Market Value $1.0 Billion
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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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