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Merrill Lynch Capital Trust II, 6.45% Trust Preferred Securities
Ticker Symbol: MER-M* CUSIP: 59024T203 Exchange: NYSE
* NOTE: This security is no longer trading as of 8/15/2016
Security has been Called for: Monday, August 15, 2016
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Merrill Lynch Capital Trust II, 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 6/15/2012 at $25 per share plus accrued and unpaid dividends, and maturing 6/15/2062 which may be extended to 6/15/2087. 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 at least 2 business days 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 6/15/2062, which may be extended to 6/15/2087, 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 - 4/27/2007 - 36.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: MRLLP Changed: 5/15/2007
Market Value $900.0 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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