CHARLOTTE, N.C.–(BUSINESS WIRE)– Bank of America Corporation (the “Corporation”) filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission (“SEC”) on January 29, 2016, announcing that the Corporation:
- issued 44,000 shares of Series CC Preferred Stock (as defined below). Under the terms of the Series CC Preferred Stock, the ability of the Corporation to declare or pay dividends on, declare or make distributions with respect to, or repurchase, redeem or otherwise acquire for consideration, shares of its common stock or any preferred stock ranking on a parity with or junior to the Series CC Preferred Stock, will be subject to certain restrictions in the event that the Corporation fails to declare and pay full dividends (or declare and set aside a sum sufficient for payment thereof) on its Series CC Preferred Stock. The restrictions are set forth in the Certificate of Designations described below.
- filed a Certificate of Designations (the “Certificate of Designations”) with the Secretary of State of the State of Delaware for the purpose of amending its Amended and Restated Certificate of Incorporation to fix the designations, preferences, limitations and relative rights of its 6.200% Non-Cumulative Preferred Stock, Series CC, $0.01 par value per share (the “Series CC Preferred Stock”). The Series CC Preferred Stock has a liquidation preference of $25,000 per share.
- closed the sale of 44,000,000 Depositary Shares (the “Depositary Shares”), each representing a 1/1,000 th interest in a share of the Series CC Preferred Stock. The 44,000,000 Depositary Shares included 4,000,000 Depositary Shares issued pursuant to the over-allotment option granted by the Corporation to the underwriters, which the underwriters exercised in full on January 25, 2016. The terms of the offering of the Depositary Shares are described in the Corporation’s Prospectus dated May 1, 2015, constituting a part of the Registration Statement on Form S-3 (Registration No. 333-202354), as supplemented by a Prospectus Supplement dated January 21, 2016.
Bank of America Corporation makes available all of its SEC filings on its website: http://investor.bankofamerica.com/phoenix.zhtml?c=71595&p=irol-irhome.
The SEC maintains a website that contains reports, proxy statements and other information regarding issuers that file electronically with the SEC. These materials may be obtained electronically by accessing the SEC’s website at http://www.sec.gov. A copy of the document will also be available on the National Storage Mechanism’s website at:http://www.morningstar.co.uk/uk/NSM.
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Contacts
Bank of America
Michael Pressman, 1-980-386-5083
Assistant General Counsel
