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Bank Of America CISCO Mcast news

Type 8-Ok BANK OF AMERICA CORP For: Oct 06

ByEditorialTeam

Oct 7, 2022

October 7, 2022 7:01 AM EDT


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BANK OF AMERICA CORP /DE/ Depositary Shares, every representing a 1/1,000th curiosity in a share of Floating Price Non-Cumulative Most popular Inventory, Collection E Depositary Shares, every representing a 1/1,000th curiosity in a share of 6.000% Non-Cumulative Most popular Inventory, Collection GG Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.875% Non-Cumulative Most popular Inventory, Collection HH Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory Senior Medium-Time period Notes, Collection A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the assure of the Registrant with Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.375% Non-Cumulative Most popular Inventory, Collection KK Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.000% Non-Cumulative Most popular Inventory, Collection LL Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.375% Non-Cumulative Most popular Inventory, Collection NN Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.125% Non-Cumulative Most popular Inventory, Collection PP Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.250% Non-Cumulative Most popular Inventory, Collection QQ Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.750% Non-Cumulative Most popular Inventory, Collection SS false 0000070858 0000070858 2022-10-06 2022-10-06 0000070858 us-gaap:CommonStockMember 2022-10-06 2022-10-06 0000070858 us-gaap:SeriesEPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesGGPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesHHPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesLPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries14Member 2022-10-06 2022-10-06 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries21Member 2022-10-06 2022-10-06 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries42Member 2022-10-06 2022-10-06 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries53Member 2022-10-06 2022-10-06 0000070858 bac:FloatingRatePreferredHybridIncomeTermSecuritiesMember 2022-10-06 2022-10-06 0000070858 bac:A5.63FixedtoFloatingRatePreferredHybridIncomeTermSecuritiesMember 2022-10-06 2022-10-06 0000070858 bac:IncomeCapitalObligationNotesMember 2022-10-06 2022-10-06 0000070858 bac:SeniorMediumTermNotesSeriesAStepUpCallableNotesMember 2022-10-06 2022-10-06 0000070858 bac:SeriesKKPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesLLPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesNNPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesPPPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:SeriesQQPreferredStockMember 2022-10-06 2022-10-06 0000070858 bac:DepositarySharesEachRepresentingA11000thInterestInAShareOf4750NonCumulativePreferredStockSeriesSSMember 2022-10-06 2022-10-06

As filed with the Securities and Trade Fee on October 7, 2022

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-Ok

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest occasion reported):

October 6, 2022

 

BANK OF AMERICA CORPORATION

(Actual identify of registrant as laid out in its constitution)

 

 

Delaware   1-6523   56-0906609

(State or Different Jurisdiction

of Incorporation)

 

(Fee

File Quantity)

 

(IRS Employer

Identification No.)

100 North Tryon Road

Charlotte, North Carolina 28255

(Tackle of principal govt places of work)

(704) 386-5681

(Registrant’s phone quantity, together with space code)

Not Relevant

(Former identify or former tackle, if modified since final report)

 

Verify the suitable field beneath if the Type 8-Ok submitting is meant to concurrently fulfill the submitting obligation of the registrant underneath any of the next provisions:

 

Written communications pursuant to Rule 425 underneath the Securities Act (17 CFR 230.425)

 

Soliciting materials pursuant to Rule 14a-12 underneath the Trade Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) underneath the Trade Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) underneath the Trade Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Part 12(b) of the Act:

 

Title of every class

 

Buying and selling

Image(s)

 

Identify of every change

on which registered

Frequent Inventory, par worth $0.01 per share   BAC   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of Floating Price Non-Cumulative Most popular Inventory, Collection E   BAC PrE   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 6.000% Non-Cumulative Most popular Inventory, Collection GG   BAC PrB   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.875% Non-Cumulative Most popular Inventory, Collection HH   BAC PrK   New York Inventory Trade
7.25% Non-Cumulative Perpetual Convertible Most popular Inventory, Collection L   BAC PrL   New York Inventory Trade
Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory, Collection 1   BML PrG   New York Inventory Trade
Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory, Collection 2   BML PrH   New York Inventory Trade
Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory, Collection 4   BML PrJ   New York Inventory Trade
Depositary Shares, every representing a 1/1,2 hundredth curiosity in a share of Financial institution of America Company Floating Price Non-Cumulative Most popular Inventory, Collection 5   BML PrL   New York Inventory Trade
Floating Price Most popular Hybrid Earnings Time period Securities of BAC Capital Belief XIII (and the assure associated thereto)   BAC/PF   New York Inventory Trade
5.63% Mounted to Floating Price Most popular Hybrid Earnings Time period Securities of BAC Capital Belief XIV (and the assure associated thereto)   BAC/PG   New York Inventory Trade
Earnings Capital Obligation Notes initially due December 15, 2066 of Financial institution of America Company   MER PrK   New York Inventory Trade
Senior Medium-Time period Notes, Collection A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the assure of the Registrant with respect thereto)   BAC/31B   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.375% Non-Cumulative Most popular Inventory, Collection KK   BAC PrM   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 5.000% Non-Cumulative Most popular Inventory, Collection LL   BAC PrN   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.375% Non-Cumulative Most popular Inventory, Collection NN   BAC PrO   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.125% Non-Cumulative Most popular Inventory, Collection PP   BAC PrP   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.250% Non-Cumulative Most popular Inventory, Collection QQ   BAC PrQ   New York Inventory Trade
Depositary Shares, every representing a 1/1,000th curiosity in a share of 4.750% Non-Cumulative Most popular Inventory, Collection SS   BAC PrS   New York Inventory Trade

Point out by verify mark whether or not the registrant is an rising development firm as outlined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Trade Act of 1934 (17 CFR 240.12b-2).

Rising development firm  

If an rising development firm, point out by verify mark if the registrant has elected to not use the prolonged transition interval for complying with any new or revised monetary accounting requirements offered pursuant to Part 13(a) of the Trade Act.  ☐

 

 

 


ITEM 8.01.

Different Occasions.

On October 6, 2022, Financial institution of America Company (the “Company”) and sure wholly owned subsidiaries entered into an settlement with Ambac Assurance Company (along with its subsidiaries, “Ambac”) to resolve all pending Ambac lawsuits towards the Company and its subsidiaries beforehand disclosed within the Company’s Annual Report on Type 10-Ok for the fiscal 12 months ended 2021, and in prior U.S. Securities and Trade Fee (“SEC”) experiences. As disclosed in these filings, the pending lawsuits, with damages claims of greater than $3 billion, had been introduced by Ambac towards Countrywide entities and different legacy entities associated to bond insurance coverage insurance policies that Ambac offered earlier than the 2008 monetary disaster. Underneath the phrases of the settlement, in change for the Company’s fee of $1.84 billion to Ambac (the “Settlement Cost”), Ambac, amongst different issues, will (i) trigger all pending litigation between the events to be dismissed with prejudice, and (ii) launch the Company and its subsidiaries from all excellent claims associated to Ambac’s issuance of bond insurance coverage insurance policies for sure of the Company’s and legacy entities’ securitized swimming pools of residential mortgage loans.

The Company beforehand accrued for sure quantities of the Settlement Cost. Because of the earlier accruals and in consideration of the Settlement Cost, the Company expects to incur a pre-tax expense within the third quarter of 2022 of roughly $354 million, or $0.03 per share on an after tax foundation.


SIGNATURES

Pursuant to the necessities of the Securities Trade Act of 1934, the Registrant has duly triggered this report back to be signed on its behalf by the undersigned hereunto duly licensed.

 

BANK OF AMERICA CORPORATION
By:  

/s/ Ross E. Jeffries, Jr.

 

  Ross E. Jeffries, Jr.

 

  Deputy Common Counsel and Company Secretary

Dated: October 7, 2022

ATTACHMENTS / EXHIBITS

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IDEA: Financial_Report.xlsx

IDEA: FilingSummary.xml

IDEA: MetaLinks.json


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