AI English summary of an SEC filing — figures as filed
Bank of America BACThe company said it issued 120,000 shares of Series OO Preferred Stock on April 29, 2025.
Key points
AI summaryThe company said it issued 120,000 shares of Series OO Preferred Stock on April 29, 2025.
The company filed a Certificate of Designations with the Delaware Secretary of State to set the terms of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series OO ($0.01 par value per share), and the liquidation preference is $25,000 per share.
The company said it sold 3,000,000 Depositary Shares on April 29, 2025, with each Depositary Share representing a 1/25th interest in one share of its 1 shares of Series OO Preferred Stock.
The company said that if it fails to declare and pay full dividends on its Series OO Preferred Stock, its ability to declare or pay dividends on, make distributions on, or repurchase, redeem or otherwise acquire its common stock and preferred stock ranking on a parity with or junior to the Series OO Preferred Stock will be subject to certain restrictions.
Summary
AI-writtenAnalysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
BofA Series OO Preferred Stock issuance of 120,000 shares
The company said it issued 120,000 shares of Series OO Preferred Stock on April 29, 2025.
Source · Based on the filing body and exhibits
6.625% fixed-rate reset non-cumulative preferred stock terms
The company filed a Certificate of Designations with the Delaware Secretary of State to set the terms of its 6.625% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series OO ($0.01 par value per share), and the liquidation preference is $25,000 per share.
Source · Based on the filing body and exhibits
Sale of 3,000,000 Depositary Shares
The company said it sold 3,000,000 Depositary Shares on April 29, 2025, with each Depositary Share representing a 1/25th interest in one share of its 1 shares of Series OO Preferred Stock.
Source · Based on the filing body and exhibits
Limits on common and junior preferred if dividends unpaid
The company said that if it fails to declare and pay full dividends on its Series OO Preferred Stock, its ability to declare or pay dividends on, make distributions on, or repurchase, redeem or otherwise acquire its common stock and preferred stock ranking on a parity with or junior to the Series OO Preferred Stock will be subject to certain restrictions.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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