Bank of America Corporation
Financials · USD
Price
$22.03
Cap
$1.2B
Earnings
—
30d Trend
+0%
Lower half of range — may offer entry value
Key macro factors
Interest Rate Environment: Changes in interest rates can significantly impact the attractiveness and pricing of fixed-income preferred stocks like BAC-PM; rising rates can decrease its value.
Bank of America's Financial Health: The overall financial performance, profitability, and stability of Bank of America directly influence the perceived creditworthiness and value of its preferred stock, ensuring dividend payments.
Call Provisions: BAC-PM (Series KK) became callable on or after June 25, 2024, at the issuer's option for $25 per depositary share, which can act as a price ceiling for the stock.
Bank of America Corporation Depositary Shares, each representing a 1/1,000th interest in a share of its perpetual 5.375% Non-Cumulative Preferred Stock, Series KK, with a liquidation preference of $25 per depositary share. This preferred stock offers fixed dividend payments and has preference over common stock in terms of dividend payments and asset liquidation.
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