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Cybernet Data Systems Inc.

Bank of America Corporation Prospectus: Debt Securities, Preferred Stock, Depositary Shares, and Junior Subordinated Notes Offering

Strategic Insights

— 2 min read

Bank of America Corporation has filed a prospectus for the offering of debt securities, preferred stock, depositary shares, and junior subordinated notes. The prospectus provides an overview of the securities being offered, including their terms and conditions. The bank has guaranteed the payment obligations of its finance subsidiaries, which have outstanding trust preferred securities. The offering is intended to describe certain outstanding securities previously issued by the company and its predecessor companies and affiliated trusts.

The prospectus highlights that the securities being offered are unsecured and not guaranteed by Bank of America, N.A. or any other bank. They are also not insured by the Federal Deposit Insurance Corporation or any other governmental agency and may involve investment risks. The Securities and Exchange Commission (SEC) has not approved or disapproved the securities or passed upon the adequacy or accuracy of the prospectus. The prospectus cautions that any representation to the contrary is a criminal offense.

The prospectus contains forward-looking statements, which speak only as of the date they are made. The company undertakes no obligation to update these statements to reflect events or circumstances after the date of the prospectus. The financial statements and management's assessment of internal control over financial reporting have been incorporated into the prospectus by reference to the company's Annual Report on Form 10-K for the year ended December 31, 2020.

Key Takeaways:

  • The prospectus offers debt securities, preferred stock, depositary shares, and junior subordinated notes from Bank of America Corporation.
  • The securities are unsecured and not guaranteed by Bank of America, N.A. or any other bank.
  • They are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and may involve investment risks.
  • The SEC has not approved or disapproved the securities or passed upon the adequacy or accuracy of the prospectus.
  • The prospectus contains forward-looking statements that the company undertakes no obligation to update.
  • The financial statements and management's assessment of internal control over financial reporting have been incorporated into the prospectus by reference to the company's Annual Report on Form 10-K for the year ended December 31, 2020.
  • The company's principal executive offices are located in the Bank of America Corporate Center, 100 North Tryon Street, Charlotte, North Carolina 28255.
  • The report number for the prospectus is 333-257399.

Statistics:

  • Bank of America Corporation's principal executive offices are located in Charlotte, North Carolina 28255.
  • The bank has a diverse range of banking and nonbank financial services and products.
  • The Trusts listed on the cover page of the prospectus are statutory trusts organized under Delaware law.
  • The outstanding securities being offered by the use of this prospectus consist of debt securities, preferred stock, depositary shares, junior subordinated notes and debt securities, subordinated debentures, trust securities and guarantees previously issued and registered under various registration statements.
  • The registration statements referenced include 333-224523, 333-224043, 333-202354, and others.

Sources:

  • EDGAR Online via COMTEX
  • Bank of America Corporation's Annual Report on Form 10-K for the year ended December 31, 2020
  • Securities and Exchange Commission (SEC)
  • Comtex SmarTrend Alert
  • PricewaterhouseCoopers LLP

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