Bank of America Floating Rate (4% Min) Non Cumulative Preferred Stock
By: Tim McPartland,
Originaly issued by Merrill Lynch
S&P Rating BB+ Moodys Rating NR
Security Ticker Symbol BML-L
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Market Traded ON NYSE
Dividend Payment Paid on the 21st of February, May, August and November beginning on 05/21/2007
Quarterly Dividend .250 Annual Dividend 1.000
Dividends will float at a rate of .50% plus 3 month libor or a minimum of 4%.
Securities may be redeemed, at the issuers option, as early as 05/21/2012 for a redemption price of $25/share plus accrued dividends
Dividend Payment Will Likely be a Qualified Distributions
Maturity Date None
Company Investor Relations Page for Bank of America
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Below you can find the offering Prospectus and Final Pricing Document
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Tim McPartland
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Tim McPartland is a private investor with over 45 years of investing experience. His analysis, research and writing is devoted to the hunt for income producing securities of all types, but in particular specializing in preferred stocks, exchange traded debt and Master Limited Partnerships.
