Tuesday, October 9, 2012

Bank Of America Redeems Trust Preferred Stocks - 9 Down, 57 To Go

Posted by Doug K. Le Du, Author of Preferred Stock Investing at 1:55 PM
Bank of America (BAC) announced the redemption of nine trust preferred stocks (TRUPS) last Thursday, October 4, 2012 valued at $5.133 billion. Just as interesting as the TRUPS that BAC included in this redemption are the TRUPS that were skipped over.

Three of the redeemed TRUPS are not publicly traded, so it is the remaining six that are of interest to us. Those holding shares of these six BAC TRUPS will receive $25 per share plus any accrued dividends for the partial final quarter on November 5, 2012...

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