BANK OF AMERICA
Bank of America Corporation announced today that it will submit a redemption notice to the institutional trustee for Progress Capital Trust IV, which will result in the redemption of all $5 million aggregate liquidation amount outstanding of the trust preferred securities of Progress Capital Trust IV designated as the Floating Rate MMCapSSM. The redemption date for these securities will be July 7, 2013, and the cash redemption price to be paid on the redemption date will be $1,000 per trust preferred security. Accrued distributions for the full current quarterly distribution period of $9.1685 per trust preferred security will be paid to holders of record at the close of business on June 22, 2013 in the customary manner. Bank of America has received all necessary approvals for these redemptions.
Bank of America
Bank of America is one of the world's largest 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. We serve approximately 52 million consumer and small business relationships with approximately 5,400 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in 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 more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
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