August 5, 2024 at 4:15 PM Eastern
Bank of America Announces Full Redemption of its Series X Preferred Stock and Related Depositary Shares
CHARLOTTE, North Carolina – Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X (C U S I P Number zero six zero five zero five E J nine), liquidation preference announcement twenty five thousand dollars per share (the “Preferred Stock”), and the corresponding depositary shares each representing a one twenty fifth interest in a share of the Preferred Stock (C U S I P Number zero six zero five zero five E H three) (the “Depositary Shares”).
The Depositary Shares will be redeemed simultaneously with the Preferred Stock on the upcoming dividend payment date on September fifth twenty twenty four (the “Redemption Date”), at a redemption price of announcement one thousand dollars per depositary share. Declared dividends of announcement thirty one dollars and twenty five cents per depositary share in respect of the outstanding Depositary Shares for the full current semi-annual dividend period from, and including, March fifth twenty twenty four to, but excluding, September fifth twenty twenty four will be paid separately on September fifth twenty twenty four, to holders of record on August fifteenth twenty twenty four, in the customary manner. Accordingly, the redemption price of announcement one thousand dollars per depositary share does not include any accrued and unpaid dividends. Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date.
The Depositary Shares are held through The Depository Trust Company (“D T C”) and will be redeemed in accordance with the applicable procedures of D T C.
Payment to D T C for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N A, collectively, as redemption agent. The address for the redemption agent is as follows:
Computershare Trust Company, N A
Attention Corporate Actions
150 Royall Street
Canton, Massachusetts 02021
This press release does not constitute a notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement governing the Depositary Shares.
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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 A T Ms (automated teller machines) and award-winning digital banking with approximately 58 million verified digital 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 4 million small business households 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 (N Y S E B A C) is listed on the New York Stock Exchange.
Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of nineteen ninety five. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item one A. “Risk Factors” in our Annual Report on Form ten K for the year ended December thirty first twenty twenty three, and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake 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.
Lee McEntire, Bank of America
Phone 1 9 8 0 3 8 8 6 7 8 0
lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America (Fixed Income)
Phone 1 2 1 2 4 4 9 3 1 1 2
jonathan.blum@bofa.com
Jocelyn Seidenfeld, Bank of America
Phone 1 6 4 6 7 4 3 3 3 5 6
jocelyn.seidenfeld@bofa.com
August 5, 2024 at 4:15 PM Eastern
Bank of America Announces Full Redemption of its Series X Preferred Stock and Related Depositary Shares
CHARLOTTE, North Carolina – Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series X (C U S I P Number zero six zero five zero five E J nine), liquidation preference announcement twenty five thousand dollars per share (the “Preferred Stock”), and the corresponding depositary shares each representing a one twenty fifth interest in a share of the Preferred Stock (C U S I P Number zero six zero five zero five E H three) (the “Depositary Shares”).
The Depositary Shares will be redeemed simultaneously with the Preferred Stock on the upcoming dividend payment date on September fifth twenty twenty four (the “Redemption Date”), at a redemption price of announcement one thousand dollars per depositary share. Declared dividends of announcement thirty one dollars and twenty five cents per depositary share in respect of the outstanding Depositary Shares for the full current semi-annual dividend period from, and including, March fifth twenty twenty four to, but excluding, September fifth twenty twenty four will be paid separately on September fifth twenty twenty four, to holders of record on August fifteenth twenty twenty four, in the customary manner. Accordingly, the redemption price of announcement one thousand dollars per depositary share does not include any accrued and unpaid dividends. Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date.
The Depositary Shares are held through The Depository Trust Company (“D T C”) and will be redeemed in accordance with the applicable procedures of D T C.
Payment to D T C for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N A, collectively, as redemption agent. The address for the redemption agent is as follows:
Computershare Trust Company, N A
Attention Corporate Actions
150 Royall Street
Canton, Massachusetts 02021
This press release does not constitute a notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement governing the Depositary Shares.
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 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 A T Ms (automated teller machines) and award-winning digital banking with approximately 58 million verified digital 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 4 million small business households 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 (N Y S E B A C) is listed on the New York Stock Exchange.
Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of nineteen ninety five. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item one A. “Risk Factors” in our Annual Report on Form ten K for the year ended December thirty first twenty twenty three, and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake 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.
Lee McEntire, Bank of America
Phone 1 9 8 0 3 8 8 6 7 8 0
lee.mcentire@bofa.com
Jonathan G. Blum, Bank of America (Fixed Income)
Phone 1 2 1 2 4 4 9 3 1 1 2
jonathan.blum@bofa.com
Jocelyn Seidenfeld, Bank of America
Phone 1 6 4 6 7 4 3 3 3 5 6
jocelyn.seidenfeld@bofa.com
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