Bank of America Announces the Redemption of $3.9 Billion of Trust Preferred Securities
Bank of America Corporation announced it has submitted redemption notices to the property trustee for each trust listed in the table below, which will result in the redemption of all of the trust preferred securities of each such trust on July 25, 2012. The trust preferred securities will be redeemed at the applicable redemption price (as a percentage of the liquidation preference) listed in the table below, plus accrued and unpaid distributions to the redemption date. All of the redemptions are being effected under the optional redemption provisions applicable to the trust preferred securities of each trust, and not pursuant to redemption provisions relating to the determination of the occurrence of a “Capital Treatment Event.”
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