CHARLOTTE, N.C.--(BUSINESS WIRE)--Jan. 2, 2019--
Bank of America Corporation today reminded holders of warrants issued
January 16, 2009 to purchase shares of the Company’s common stock (CUSIP
No. 060505 14 6) (the “Warrants”), that the Warrants will expire on
Wednesday, January 16, 2019.
The Warrants were originally issued to the United States Department of
the Treasury on January 16, 2009, and were offered to the public on
March 9, 2010. The Warrants trade on the New York Stock Exchange (NYSE)
under the symbol BAC WS A. The NYSE has notified the Company that it
will suspend trading in the Warrants after the close of trading on
January 11, 2019 so that trades can be settled by January 16, 2019.
As of December 31, 2018, there were 121,455,549 Warrants outstanding.
Due to adjustments made in accordance with the terms of the Warrants,
each Warrant represents the right to purchase 1.06 shares of common
stock at the exercise price of $12.544 per share.
The Warrants are payable only by net share settlement, and
warrantholders are not permitted to pay the exercise price in cash. This
means that a number of shares of the Company’s common stock equal in
value to the difference between the exercise price and the last reported
sale price of the Company’s common stock on the exercise date would be
issuable for each Warrant exercised, together with cash in lieu of any
fractional shares of common stock.
A holder of Warrants can obtain further information on exercising the
Warrants by contacting their broker. Brokers are encouraged to contact
Computershare, the Company’s warrant agent, or The Depository Trust &
Clearing Corporation in advance of the expiration date to confirm
procedures for exercising Warrants and payment of the exercise price by
net share settlement.
The Warrants do not exercise automatically upon expiration. Any Warrants
not exercised prior to the expiration time on January 16, 2019 will
expire and be canceled, and the holder will not receive any shares of
the Company’s common stock for its unexercised Warrants.
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 67 million
consumer and small business clients with approximately 4,400 retail
financial centers, approximately 16,100 ATMs, and award-winning digital
banking with more than 36 million active users, including nearly 26
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 across the
United States, its territories and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York Stock
For more Bank of America news, including dividend announcements and
other important information, visit the Bank
of America newsroom. Click here
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Source: Bank of America
Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
G. Blum, Bank of America (Fixed Income), 1.212.449.3112
Reporters May Contact:
Lawrence Grayson, Bank of America,