BANK OF AMERICA CORP /DE/ Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock Senior Medium-Term Notes, Series A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the guarantee of the Registrant with Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ false 0000070858 --12-31 0000070858 2022-01-25 2022-01-25 0000070858 us-gaap:CommonStockMember 2022-01-25 2022-01-25 0000070858 us-gaap:SeriesEPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:SeriesGGPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:SeriesHHPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:SeriesLPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries14Member 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries21Member 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries42Member 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11200thInterestInAShareOfBankOfAmericaCorporationFloatingRateNonCumulativePreferredStockSeries53Member 2022-01-25 2022-01-25 0000070858 bac:FloatingRatePreferredHybridIncomeTermSecuritiesMember 2022-01-25 2022-01-25 0000070858 bac:A5.63FixedtoFloatingRatePreferredHybridIncomeTermSecuritiesMember 2022-01-25 2022-01-25 0000070858 bac:IncomeCapitalObligationNotesMember 2022-01-25 2022-01-25 0000070858 bac:SeniorMediumTermNotesSeriesAStepUpCallableNotesMember 2022-01-25 2022-01-25 0000070858 bac:SeriesKKPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:SeriesLLPreferredStockMember 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11000thInterestInAShareOf4.375NonCumulativePreferredStockSeriesNn7Member 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11000thInterestInAShareOf4.125NonCumulativePreferredStockSeriesPp5Member 2022-01-25 2022-01-25 0000070858 bac:DepositarySharesEachRepresentingA11000thInterestInAShareOf4.250NonCumulativePreferredStockSeriesQq6Member 2022-01-25 2022-01-25

As filed with the Securities and Exchange Commission on January 25, 2022

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): January 25, 2022

 

 

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   1-6523   56-0906609

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

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

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

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

 

☐

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

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

 

Title of each class

 

Trading

Symbol(s)

 

Name of each exchange

on which registered

Common Stock, par value $0.01 per share   BAC   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E   BAC PrE   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG   BAC PrB   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH   BAC PrK   New York Stock Exchange
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L   BAC PrL   New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 1   BML PrG   New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 2   BML PrH   New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 4   BML PrJ   New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 5   BML PrL   New York Stock Exchange
Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)   BAC/PF   New York Stock Exchange
5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)   BAC/PG   New York Stock Exchange
Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation   MER PrK   New York Stock Exchange
Senior Medium-Term Notes, Series A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the guarantee of the Registrant with respect thereto)   BAC/31B   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK   BAC PrM   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL   BAC PrN   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN   BAC PrO   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP   BAC PrP   New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ   BAC PrQ   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

ITEM 3.03.

Material Modification to Rights of Security Holders.

On January 25, 2022, Bank of America Corporation (the “Corporation”) issued 70,000 shares of Series RR Preferred Stock (as defined in Item 5.03 below).

Under the terms of the Series RR 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 RR 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 RR Preferred Stock. The restrictions are set forth in the Certificate of Designations described in Item 5.03 below.

 

ITEM 5.03.

Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On January 25, 2022, the Corporation filed a Certificate of Designations (the “Certificate of Designations”) with the Secretary of State of the State of Delaware to amend its Restated Certificate of Incorporation. The Certificate of Designations fixes the designations, preferences, limitations and relative rights of the Corporation’s 4.375% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series RR, $0.01 par value per share (the “Series RR Preferred Stock”). The Series RR Preferred Stock has a liquidation preference of $25,000 per share. The Certificate of Designations is attached hereto as Exhibit 3.1 and is incorporated by reference herein.

 

ITEM 8.01.

Other Events.

On January 25, 2022, the Corporation sold 1,750,000 Depositary Shares (the “Depositary Shares”), each representing a 1/25th interest in a share of the Series RR Preferred Stock. The terms of the offering of the Depositary Shares are described in the Corporation’s Prospectus dated August 4, 2021, constituting a part of the Registration Statement on Form S-3 (Registration No. 333-257399), as supplemented by a Prospectus Supplement dated January 20, 2022. Additional exhibits are filed herewith in connection with the offering, issuance and sale of the Depositary Shares.

 

2

ITEM 9.01.

Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are filed herewith:

 

Exhibit No.   

Description of Exhibit

1.1    Underwriting Agreement, dated January 20, 2022 with respect to the offering of 1,750,000 Depositary Shares, each representing a 1/25th interest in a share of Series RR Preferred Stock
3.1    Certificate of Designations for the Series RR Preferred Stock
4.1    Deposit Agreement related to the Depositary Shares, dated January 24, 2022, among the Corporation, Computershare Inc., Computershare Trust Company, N.A. and the Holders from time to time of the Depositary Receipts
4.2    Form of Depositary Receipt for the Depositary Shares (included in Exhibit 4.1)
5.1    Opinion of McGuireWoods LLP, regarding legality of the Series RR Preferred Stock and the Depositary Shares
104    Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

BANK OF AMERICA CORPORATION
By:  

/s/ Ross E. Jeffries, Jr.

 

  Ross E. Jeffries, Jr.

 

  Deputy General Counsel and Corporate Secretary

Dated: January 25, 2022

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