Brian, here is something on the new BAC-M issue:
Filed Pursuant to Rule 433
Registration No. 333-224523
BANK OF AMERICA CORPORATION
PREFERRED STOCK, SERIES KK
$1,325,000,000
53,000,000 Depositary Shares, Each Representing a 1/1,000th Interest in a
Share of Bank of America Corporation 5.375% Non-Cumulative Preferred Stock, Series KK
FINAL TERM SHEET
Dated June 18, 2019
Issuer: Bank of America Corporation
Security: Depositary Shares, each representing a 1/1,000th interest in a share of Bank of America Corporation 5.375% Non-Cumulative Preferred Stock, Series KK
Expected Ratings: Baa3 (Moody’s) / BBB- (S&P) / BBB- (Fitch)
Size: $1,325,000,000 ($25 per Depositary Share)
Over-allotment Option: The underwriters also may purchase up to an additional 7,950,000 Depositary Shares ($25 per Depositary Share) within 2 days of the date of the final prospectus supplement in order to cover over-allotments, if any.
Public Offering Price: $25 per Depositary Share
Maturity: Perpetual
Trade Date: June 18, 2019
Settlement Date: June 25, 2019 (T+5)
Dividend Rate (Non-Cumulative): 5.375%
Dividend Payment Dates: March 25, June 25, September 25, and December 25 of each year beginning on September 25, 2019, each subject to following unadjusted business day convention