BANK OF AMERICA

Investor Relations

Bank of America Announces Redemption of $1.97 Billion of Trust Preferred Securities

Printer Friendly Version View printer-friendly version
<< Back

Wednesday, July 13, 2016

Bank of America Corporation announced today that it will submit redemption notices to the property trustee for each trust listed in the table below, which will result in the redemption of all the trust preferred securities of each trust on August 15, 2016. The trust preferred securities will be redeemed at the applicable redemption price (as a percentage of the liquidation preference) listed in the table below, 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.

The redemptions are being made pursuant to Bank of America's capital plan. Bank of America has received all necessary approvals for these redemptions.

CUSIP

      

Trust

       

Title of Security

  

NYSE Ticker Symbol

      

Aggregate Liquidation Pref. Outstanding

    

Redemption Price

      

Accrued Distributions per Security

     

Trustee/ Paying Agent

05518T209

BAC Capital Trust VIII

6% Capital Securities

BAC PrZ

$523,775,000 ($25 per Security)

100%

0.3333333

The Bank New York Mellon

 

22238E206

Countrywide Capital IV

6.75% Trust Preferred Securities

 

CFC PrA

$500,000,000 ($25 per Security)

100%

0.2062500

Deutsche Bank Trust Company Americas

 

59024T203

Merrill Lynch Capital Trust II

Trust Preferred Securities

MER PrM

$950,000,000 ($25 per Security)

100%

0.2687500

The Bank of New York Mellon

 

The addresses of the trustees/paying agents for the trusts listed in the table above are as follows:

The Bank of New York Mellon
101 Barclay Street, 8 West
New York, New York 10286

Deutsche Bank Trust Company Americas
60 Wall Street, 16 th Floor
New York, New York 10005


Bank of America
Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active users and approximately 20 million mobile users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Forward-looking statements
Certain statements in this news release represent the current expectations, plans or forecasts of Bank of America based on available information and are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made

These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2015 and in any of Bank of America's other subsequent Securities and Exchange Commission filings.

Visit the Bank of America newsroom for more Bank of America news .

Investors May Contact:
Jonathan G. Blum, Bank of America, 1.212.449.3112

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840
jerome.f.dubrowski@bankofamerica.com