Bank of America Corporation announced today the redemption prices for its previously reported “make-whole” redemptions of all of the trust preferred securities of BAC Capital Trust VI, BAC Capital Trust VII, and BAC Capital Trust XI. The redemption prices are set forth in the table below and were calculated in accordance with the terms of the applicable trust preferred securities and the junior subordinated notes which underlie such trust preferred securities.
In addition to the redemption price, holders of such trust preferred securities will receive accrued and unpaid distributions to, but not including, the redemption date, as noted in the table below. The redemption date, as previously announced, is June 6, 2018.
|CUSIP/ISIN||Trust||Title of Security||Aggregate Liquidation Amount Outstanding||Redemption Price||Accrued and Unpaid Distributions per Security|
|05518F209||BAC Capital Trust VI||5⅝% Capital Securities||$26,505,000($1,000 per Security)||129.585%||$13.7500000|
|XS0226849221||BAC Capital Trust VII||5¼% Capital Securities||£4,100,000 (£50,000 per Security)||151.715%||£834.2465753|
|056335AA0||BAC Capital Trust XI||6 5/8% Capital Securities||$657,756,000 ($1,000 per Security)||145.305%||$2.3923611|
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 4,400 retail financial centers, approximately 16,000 ATMs, and award-winning digital banking with approximately 36 million active users, including 25 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 Exchange.
Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. 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 in our 2017 Annual Report on Form 10-K and 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.
Investors May Contact:
Lee McEntire, Bank of America
Jonathan Blum, Bank of America (Fixed Income)
Reporters May Contact:
Jerry Dubrowski, Bank of America,
Phone: 1.646.855.1195 (office) or 1.508.843.5626 (mobile)