Bank of America Corporation Announces Expiration and Results of Cash Tender Offers by BofA Securities for Certain Outstanding Depositary Shares of Bank of America Corporation Certain Outstanding Depositary Shares Offer table

Certain Outstanding Depositary Shares Offer table
      Per Depositary Shares  
APL Depositary Shares Representing Fractional Interests in Series of Bank of America Preferred Stock CUSIP No. Liquidation Preference1 Offer Price Accrued Dividends2 Total Consideration2 Series Cap Aggregate Liquidation Preference Tendered as of Expiration Date and to be Accepted for Purchase
1 Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP 3 06055H608 $25.00 $17.27 $0.1174479 $17.3874479 $911,000,000 $2,492,125
2 Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ3 06055H806 $25.00 $17.30 $0.0767361 $17.3767361 $1,296,000,000 $3,026,950
3 Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN3 06055H400 $25.00 $18.20 $0.1215278 $18.3215278 $1,094,500,000 $25,170,050
4 Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E3 060505815 $25.00 $19.22 $0.0963694 $19.3163694 $313,265,175 $9,343,625
5 Depositary Shares, each representing a 1/1,200th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series 13 060505633 $25.00 $18.92 $0.0571489 $18.9771489 $94,221,675 $2,659,025
6 Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS3 06055H871 $25.00 $19.90 $0.0857639 $19.9857639 $696,000,000 $13,433,175
7 Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL3 06055H202 $25.00 $20.44 N/A4 $20.4400000 $1,305,000,000 $8,876,000
8 Depositary Shares, each representing a 1/25th interest in a share of 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR5 060505GB4 $1,000.00 $860.70 $5.5902778 $866.2902778 Not Applicable $81,553,000
9 Depositary Shares, each representing a 1/25th interest in a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series MM5 060505FQ2 $1,000.00 $875.30 $16.1250000 $891.4250000 Not Applicable $331,172,000
10 Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK3 06053U601 $25.00 $22.12 N/A4 $22.1200000 $1,393,500,000 $15,687,850
11 Depositary Shares, each representing a 1/25th interest in a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF5 060505FL3 $1,000.00 $897.40 $14.3611111 $911.7611111 Not Applicable $79,164,000
12 Depositary Shares, each representing a 1/1,200th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series 53 060505583 $25.00 $19.17 $0.0790691 $19.2490691 $417,677,000 $21,755,775
13 Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH3 060505195 $25.00 $24.08 $0.1999132 $24.2799132 $850,000,000 $2,769,050
14 Depositary Shares, each representing a 1/25th interest in a share of Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series JJ5 060505FP4 $1,000.00 $965.10 N/A4 $965.1000000 $150,000,000 $145,728,000

 

Footnotes

1 As used in this news release, the term “Liquidation Preference” for a Depositary Share of a series, means an amount equal to the product of the liquidation preference for a share of the applicable underlying preferred stock of Bank of America ($30,000 for a share of preferred stock underlying the Series 1 Depositary Shares and Series 5 Depositary Shares, and $25,000 for a share of preferred stock underlying the Depositary Shares of all other series) and the fractional interest in such share of preferred stock that such Depositary Share represents as set forth in the table above. For each Listed Depositary Share (as defined below), the Liquidation Preference is $25.00 and for each Non-Listed Depositary Share (as defined below), the Liquidation Preference is $1,000.00.

2 The Total Consideration (as defined in the Offer to Purchase) payable for Depositary Shares of a series that are purchased pursuant to an applicable Offer equals the applicable “Offer Price” for such Depositary Shares, plus, if applicable, the Accrued Dividends (as defined in the Offer to Purchase) for such Depositary Shares, each as set forth in the table above.

3 Depositary Shares of this series are listed for trading on the New York Stock Exchange (the “NYSE”).  Depositary Shares of all series that are listed on the NYSE are referred to herein collectively as the “Listed Depositary Shares.”

4 Accrued Dividends are not included as part of the total consideration payable for Depositary Shares of this series.

5 Depositary Shares of this series are not listed on any exchange and are referred to herein, collectively with Depositary Shares of other non-listed series, as the “Non-Listed Depositary Shares.”

December 12, 2022 at 9:00 AM Eastern

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