Financing ·
Sells 80,000 shares of Series WW Preferred Stock via 2M depositary shares
BACBank of America Corp
Bank of America Corporation issued 80,000 shares of 7.200% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series WW, with a liquidation preference of $25,000 per share. The company sold 2,000,000 depositary shares, each representing a 1/25th interest in one share of the preferred stock, to institutional investors. The filing also notes that dividend payments on common and junior preferred stock are restricted if dividends on the Series WW Preferred Stock are not declared or paid. Bank of America Corporation is a diversified financial services company providing banking, investment management, and wealth management products.