Bank of America Corporation
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Publicatie datum
11 mrt 2016 - 09:32
Statutaire naam
Bank of America Corporation
Titel
BANK OF AMERICA CORPORATION FILED A FORM 8-K
Bericht
CHARLOTTE, N.C.– (BUSINESS WIRE) – March 10, 2016 – Bank of America Corporation (the "Corporation") filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") on March 10, 2016, announcing that:
• the Corporation issued 40,000 shares of Series DD Preferred Stock (as defined below). Under the terms of the Series DD 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 DD 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 DD Preferred Stock. The restrictions are set forth in the Certificate of Designations described below.
• the Corporation 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 Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series DD, $0.01 par value per share (the “Series DD Preferred Stock”). The Series DD Preferred Stock has a liquidation preference of $25,000 per share.
• the Corporation closed the sale of 1,000,000 Depositary Shares (the “Depositary Shares”), each representing a 1/25th interest in a share of the Series DD Preferred Stock. 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 March 7, 2016.
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Datum laatste update: 01 september 2024