Bank of America – Bank of America Declares Full Redemption of Depositary Shares Representing Pursuits in Its 6.200% Non-Cumulative Most popular Stock, Sequence CC

CHARLOTTE, N.C.–(BUSINESS WIRE)–Bank of America Company introduced as we speak that it’s going to redeem all excellent shares of its 6.200% Non-Cumulative Most popular Stock, Sequence CC (the “Series CC Preferred Stock”), and the corresponding depositary shares representing fractional pursuits within the Sequence CC Most popular Stock (the “Series CC Depositary Shares”), on January 29, 2021.

All 44,000,000 Sequence CC Depositary Shares (NYSE: (BA)C PrC) (CUSIP No. 060505286), every representing a 1/1,000^th curiosity in a single share of the Sequence CC Most popular Stock, might be redeemed on the dividend fee date on January 29, 2021, concurrently with the redemption of the Sequence CC Most popular Stock, at a redemption price of $25 per depositary share. Declared dividends of $0.3875 per depositary share on the excellent Sequence CC Depositary Shares for the total present quarterly dividend interval might be paid individually on January 29, 2021 to holders of file on January 1, 2021, within the customary method. Accordingly, the redemption price of $25 per depositary share doesn’t embody any accrued and unpaid dividends, and dividends on the redeemed depositary shares will stop to accrue on the redemption date.

The Sequence CC Depositary Shares are held by way of The Depository Belief Firm (DTC) and might be redeemed in accordance with the procedures of DTC. Cost to DTC for the Sequence CC Depositary Shares might be made by Computershare Inc. and Computershare Belief Firm, N.A., collectively, as redemption agent, in accordance with the Deposit Settlement governing the Sequence CC Depositary Shares. The deal with for the redemption agent is as follows:

Computershare Belief Firm, N.A.

Attn: Company Actions

150 Royall St.

Canton, MA 02021

Bank of America has acquired all vital approvals for this redemption.

Bank of America

Bank of America is likely one of the world’s main monetary establishments, serving particular person customers, small and middle-market companies and huge firms with a full vary of banking, investing, asset administration and different monetary and threat administration services and products. The corporate gives unmatched comfort in the USA, serving roughly 66 million client and small enterprise shoppers with roughly 4,300 retail monetary facilities, together with roughly 2,900 lending facilities, 2,500 monetary facilities with a Client Funding Monetary Options Advisor and a couple of,300 enterprise facilities; roughly 17,000 ATMs; and award-winning digital banking with roughly 39 million lively customers, together with roughly 31 million cell customers. Bank of America is a world chief in wealth administration, company and funding banking and buying and selling throughout a broad vary of asset lessons, serving firms, governments, establishments and people around the globe. Bank of America provides industry-leading assist to roughly three million small enterprise homeowners by way of a set of modern, easy-to-use on-line services and products. The corporate serves shoppers by way of operations throughout the USA, its territories and roughly 35 nations. Bank of America Company stock (NYSE: (BA)C) is listed on the New York Stock Trade.

Ahead-looking statements

Sure info contained on this information launch may represent “forward-looking statements” throughout the which means of the Personal Securities Litigation Reform Act of 1995. These statements are usually not ensures of future outcomes or efficiency and contain sure dangers, uncertainties and assumptions tough to foretell or past our management. You shouldn’t place undue reliance on any forward-looking assertion and will contemplate the uncertainties and dangers mentioned in our 2019 Annual Report on Type 10-Ok, our quarterly stories on Type 10-Q for the durations ended March 31, 2020, June 30, 2020 and September 30, 2020 and subsequent Securities and Trade Fee filings. Ahead-looking statements converse solely as of the date they’re made, and we undertake no obligation to replace any forward-looking assertion to replicate the affect of circumstances or occasions that come up after the date the forward-looking assertion was made.

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