BankAmerica Announces Redemption of Series F Preferred Stock.SAN FRANCISCO--(BUSINESS WIRE)--March 4, 1996--BankAmerica Corporation (NYSE NYSE See: New York Stock Exchange :BAC BAC abbr. blood alcohol concentration ) today announced that it will redeem all 7,250,000 outstanding shares of the corporation's 9-5/8 percent Cumulative Preferred Stock Cumulative preferred stock Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , Series F, on April 16, 1996, in accordance with the terms under which they were issued. The Series F preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. will be redeemed at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of $25.00 per share plus accrued and unpaid dividends ($0.30747 per share) to the redemption date. The accrued and unpaid dividends will be paid to holders when they submit their shares for redemption. Notices of redemption will be published in a newspaper of general circulation in San Francisco and mailed to holders of record. The share certificates for the Series F preferred stock may be submitted for redemption to Chemical Mellon Shareholder Services: by mail: Chemical Mellon Shareholder Services P.O. Box 845 Midtown Station New York, NY 10018 by hand: Chemical Mellon Shareholder Services 120 Broadway, 13th Floor New York, NY 10271 by overnight delivery: Chemical Mellon Shareholder Services Reorganization Department 85 Challenger Road Ridgefield Park, NJ 07660 The ticker symbol for the Series F preferred stock is BAC Preferred F. CONTACT: BankAmerica Corp. Peter Magnani, 415/953-2418 |
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