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BAC Capital Trust XIII, Floating Rate Preferred HITS Hybrid Term Securities
Ticker Symbol: TEMP85 CUSIP: 05518UAA5 Exchange: NYBE
QUANTUMONLINE.COM SECURITY DESCRIPTION: Incomplete Description BAC Capital Trust XIII, Floating Rate Preferred HITS (Preferred Hybrid Term Securities), guaranteed by Bank of America Corp. (NYSE: BAC), liquidation amount $1000 per HITS, redeemable at the issuer's option on or after 8/2/2011 at $25 per share plus accrued and unpaid dividends, and maturing 8/2/2055. Floating rate distributions are paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is one business day prior to the record date). 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 Remarketable Floating Rate Junior Subordinated Deferrable Interest Notes due 3/15/2043 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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Stock Exchange |
Cpn Rate Ann Amt |
LiqPref CallPrice |
Call Date Matur Date |
Moodys/S&P Dated |
Distribution Dates |
15% Tax Rate |
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Variable
n.a.
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$1,000.00
$1,000.00
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8/02/2011
8/02/2055
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Baa2
BBB-
4/21/2024
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3/15, 6/15, 9/15 & 12/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (BAC)
Notes: March 31, 2023 -- Bank of America Corporation ("BAC") (NYSE: BAC), BofA Finance LLC ("BofA Finance") and certain other BAC-affiliated issuers announce its expectation that, on the first London banking date after June 30, 2023 (the "LIBOR Replacement Date"), the CME Term SOFR Reference Rate published for the one- or three-month tenor (that corresponds to the applicable USD LIBOR tenor), as administered by CME Group Benchmark Administration, Ltd. (or any successor administrator thereof) ("CME Term SOFR"), The tenor spread adjustment for CME Term SOFR with respect to the following tenors of USD LIBOR, as set forth in the LIBOR Act and the LIBOR Rule, is: One Month 0.11448 %, Three Months 0.26161 %
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IPO - 2/13/2007 - 700,000 Shares @ $1000.00 /share.
Link to IPO Prospectus
Market Value $700.0 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: Bank of America Corporate Center, 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 - Paul M. Donofrio |
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