Capital Issuances
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Preferred Stock Issues Outstanding as of January 21, 2021
Name (1) | CUSIP | Ticker | Issue Date | Maturity Date | Per Annum Dividend Rate | Dividend Payment Dates | Cumulative (C) or Non-Cumulative (NC) | First Redemption Date (2) |
---|---|---|---|---|---|---|---|---|
Series B | n/a | n/a | Jun 1997 | Perpetual | 7.000% | Jan 25 Apr 25 Jul 25 Oct 25 |
C | Non-Callable |
Series E (3) | 060505815 | BAC PrE | Nov 2006 | Perpetual | Greater of 3-month LIBOR + 35 bps or 4% | Feb 15 May 15 Aug 15 Nov 15 |
NC | 11/15/2011 |
Series F (4) | 060505377 | n/a | Mar 2012 | Perpetual | Greater of 3-month LIBOR + 40 bps or 4%% | Mar 15 Jun 15 Sep 15 Dec 15 |
NC | 3/15/2012 |
Series G (4) | 060505385 | n/a | Mar 2012 | Perpetual | Greater of 3-month LIBOR + 40 bps or 4% | Mar 15 Jun 15 Sep 15 Dec 15 |
NC | 3/15/2012 |
Series L Convertible | 060505682 | BAC PrL | Jan 2008 | Perpetual | 7.250% | Jan 30 Apr 30 Jul 30 Oct 30 |
NC | Non-Callable |
Series T | n/a | n/a | Sep 2011 | Perpetual | 6.000% | Oct 10 Jan 10 Apr 10 Jul 10 |
NC | 5/7/2019 |
Series U (5) | 060505ED2 | n/a | May 2013 | Perpetual | 5.20% to, but excluding, Jun 1, 2023; 3-month LIBOR + 313.5 bps thereafter | Fixed Jun 1 Dec 1 Floating Beginning 9/1/2023: Mar 1 Jun 1 Sep 1 Dec 1 |
NC | 6/1/2023 |
Series X (5) | 060505EH3 | n/a | Sep 2014 | Perpetual | 6.250% to, but excluding Sep 5, 2024; 3-month LIBOR + 370.5 bps thereafter | Fixed Mar 5 Sep 5 Floating Beginning 12/5/2024: Mar 5 Jun 5 Sep 5 Dec 5 |
NC | 9/5/2024 |
Series Z (5) | 060505EL4 | n/a | Oct 2014 | Perpetual | 6.500% to, but excluding Oct 23, 2024; 3-month LIBOR + 417.4 bps thereafter | Fixed Apr 23 Oct 23 Floating Beginning 1/23/2025: Jan 23 Apr 23 Jul 23 Oct 23 |
NC | 10/23/2024 |
Series AA (5) | 060505EN0 | n/a | Mar 2015 | Perpetual | 6.100% to, but excluding Mar 17, 2025; 3-month LIBOR + 389.8 bps thereafter | Fixed Mar 17 Sep 17 Floating Beginning 6/17/2025: Mar 17 Jun 17 Sep 17 Dec 17 |
NC | 3/17/2025 |
Series CC (3) | 060505286 | BAC PrC | Jan 2016 | Perpetual | 6.200% | Jan 29 Apr 29 Jul 29 Oct 29 |
NC | Will be fully redeemed on 1/29/2021 |
Series DD (5) | 060505EU4 | n/a | Mar 2016 | Perpetual | 6.300% to, but excluding, Mar 10, 2026; 3-month LIBOR + 455.3 bps thereafter | Fixed Mar 10 Sep 10 Floating Beginning 6/10/2026: Mar 10 Jun 10 Sep 10 Dec 10 |
NC | 3/10/2026 |
Series EE (3) | 060505260 | BAC PrA | Apr 2016 | Perpetual | 6.000% | Jan 25 Apr 25 Jul 25 Oct 25 |
NC | 4/25/2021 |
Series FF (5) | 060505FL3 | n/a | Mar 2018 | Perpetual | 5.875% to, but excluding, March 15, 2028; 3-month LIBOR + 293.1 bps thereafter | Fixed Mar 15 Sep 15 Floating Beginning 6/15/2028: Mar 15 Jun 15 Sep 15 Dec 15 |
NC | 3/15/2028 |
Series GG (3) | 060505229 | BAC PrB | Mar 2018 | Perpetual | 6.000% | Feb 16 May 16 Aug 16 Nov 16 |
NC | 5/16/2023 |
Series HH (3) | 060505195 | BAC PrK | Jul 2018 | Perpetual | 5.875% | Jan 24 Apr 24 July 24 Oct 24 |
NC | 7/24/2023 |
Series JJ (5) | 060505FP4 | n/a | Jun 2019 | Perpetual | 5.125% to, but excluding, Jun 20, 2024; 3-month LIBOR + 329.2 bps thereafter | Fixed: Jun 20 Dec 20 Floating Beginning 9/20/2024: Mar 20 Jun 20 Sep 20 Dec 20 |
NC | 6/20/2024 |
Series KK (3) | 06053U601 | BAC PrM | Jun 2019 | Perpetual | 5.375% | Mar 25 Jun 25 Sep 25 Dec 25 |
NC | 6/20/2024 |
Series LL (3) | 06055H202 | BAC PrN | Sep 2019 | Perpetual | 5.000% | Mar 17 Jun 17 Sep 17 Dec 17 |
NC | 9/17/2024 |
Series MM (5) | 060505FQ2 | n/a | Jan 2020 | Perpetual | 4.300% to, but excluding, Jan 28, 2025; 3-month LIBOR + 266.4 bps thereafter | Fixed: Jan 28 Jul 28 Floating Beginning 4/28/2025: Jan 28 Apr 28 Jul 28 Oct 28 |
NC | 1/28/2025 |
Series NN (3) | 06055H400 | BAC PrO | Oct 2020 | Perpetual | 4.375% | Feb 3 May 3 Aug 3 Nov 3 |
NC | 11/3/2025 |
Series PP (3) | 06055H608 | BAC PrP | Jan 2021 | Perpetual | 4.125% | Feb 2 May 2 Aug 2 Nov 2 |
NC | 2/2/2026 |
Series 1 (6) | 060505633 | BML PrG | Nov 2004 | Perpetual | Greater of 3-month LIBOR + 75 bps or 3% | Feb 28 May 28 Aug 28 Nov 28 |
NC | 11/28/2009 |
Series 2(6) | 060505625 | BML PrH | Mar 2005 | Perpetual | Greater of 3-month LIBOR + 65 bps or 3% | Feb 28 May 28 Aug 28 Nov 28 |
NC | 11/28/2009 |
Series 4 (6) | 060505591 | BML PrJ | Nov 2005 | Perpetual | Greater of 3-month LIBOR + 75 bps or 4% | Feb 28 May 28 Aug 28 Nov 28 |
NC | 11/28/2010 |
Series 5 (6) | 060505583 | BML PrL | Mar 2007 | Perpetual | Greater of 3-month LIBOR + 50 bps or 4% | Feb 21 May 21 Aug 21 Nov 21 |
NC | 5/21/2012 |
(1) Each series of preferred stock was issued by Bank of America Corporation (the "Corporation"). For more information about the Corporation's series of preferred stock, including certain voting rights, see the Corporation's Amended and Restated Certificate of Incorporation filed with the SEC.
(2) The Corporation may redeem series of preferred stock on or after the redemption date, in whole or in part, at its option, at the applicable redemption price plus declared and unpaid dividends. Series B and Series L preferred stock do not have early redemption/call rights.
(3) Ownership is held in the form of depositary shares each representing a 1/1000th interest in a share of preferred stock paying a quarterly cash dividend, if and when declared.
(4) Series F and Series G are held by BAC Capital Trust XIII and BAC Capital Trust XIV, respectively. Interests in BAC Capital Trust XIII and BAC Capital Trust XIV are represented by Hybrid Income Term Securities (HITS).
(5) Ownership is held in the form of depositary shares each representing a 1/25th interest in a share of preferred stock, paying a semi-annual cash dividend, if and when declared, until the date the securities first become redeemable, then adjusts to a quarterly cash dividend, if and when declared, thereafter.
(6) Ownership is held in the form of depositary shares, each representing a 1/1200th interest in a share of preferred stock, paying a quarterly cash dividend, if and when declared.
For more detail on any announced redemption of these securities, please see the Financial Press Releases and Quarterly Earnings.
Note: n/a = not applicable
Trust Preferred and Hybrid Securities Issues Outstanding as of January 21, 2021
The following table is a summary of the outstanding Trust Preferred and Hybrid Securities as of January 21, 2021 as originated by Bank of America Corporation and its predecessor or affiliated companies.
Name | CUSIP/ISIN | Ticker | Issue Date | Maturity Date | Per Annum Dividend Rate | Dividend Payment Dates | Cumulative (C) or Non-Cumulative (NC) | Redemption Period |
---|---|---|---|---|---|---|---|---|
Bank of America | ||||||||
Capital Trust XV | 05518WAA1 | n/a | May 2007 | Jun 2056 | 3-month LIBOR + 80 bps | Mar 1 Jun 1 Sept 1 Dec 1 |
C | On or after 6/1/2037 |
For more details on the liquidation of Merrill Lynch Capital Trust I and Countrywide Capital III, please see our Form 8-K, which was filed with the SEC on September 17, 2018 and is available in the SEC Filings section.