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Bank of America Corporation: January 2025 Preferred Stock & Securities Report

$BAC
Form 8-K
Filed on: 2025-01-16
Source
Bank of America Corporation: January 2025 Preferred Stock & Securities Report

The provided section of the financial report contains information primarily related to Bank of America Corporation's preferred stock offerings and other securities as of January 16, 2025. Here are the key points extracted from the report:

  1. Entity Identification:
  • Company Name: Bank of America Corporation
  • CIK: 0000070858
  • Address: 100 North Tryon Street, Charlotte, NC 28255
  • Phone Number: 704-386-5681
  1. Reporting Period:
  • Start Date: January 16, 2025
  • End Date: January 16, 2025
  1. Securities Issued:
  • The company has a range of preferred stock series listed, including:
    • Common Stock: Par value $0.01 per share.
    • Preferred Stock Series:
    • Series E: Floating Rate Non-Cumulative Preferred Stock
    • Series GG: 6.000% Non-Cumulative Preferred Stock
    • Series HH: 5.875% Non-Cumulative Preferred Stock
    • Series L: 7.25% Non-Cumulative Perpetual Convertible Preferred Stock
    • Series K, Series LL, Series NN, Series PP, Series QQ, Series SS: Various fixed-rate non-cumulative preferred stocks with differing rates.
    • Depositary Shares: Each representing a 1/1,000th interest in shares of the respective preferred stock series.
  1. Additional Securities:
  • Floating Rate Preferred Hybrid Income Term Securities: Part of BAC Capital Trust XIII.
  • Fixed to Floating Rate Preferred Hybrid Income Term Securities: Part of BAC Capital Trust XIV.
  • Income Capital Obligation Notes: Initially due December 15, 2066.
  • Senior Medium-Term Notes: Series A Step Up Callable Notes.
  1. Stock Symbols:
  • Each series of preferred stock has an associated NYSE ticker symbol, indicating that these securities are publicly traded.
  1. Compliance and Regulatory Framework:
  • The document adheres to the US Generally Accepted Accounting Principles (US GAAP) and follows SEC filing guidelines, as indicated by the context and namespace references.

Insights:

  • Diverse Offerings: Bank of America has a broad range of preferred stock offerings, which can appeal to various types of investors, particularly those seeking fixed income.
  • Market Positioning: The presence of multiple series with varying yields suggests a strategy to cater to different investor appetites and market conditions.
  • Long-Term Obligations: The mention of long-term notes indicates a commitment to raising capital for extended periods, possibly for strategic investments or refinancing existing debt.
  • Regulatory Compliance: The adherence to SEC regulations highlights the company's commitment to transparency and governance, which is crucial in the financial sector.

This summary provides a solid understanding of Bank of America's current securities offerings and overall positioning as of the specified date.