Bank of America's Preferred Stock, Series L Shares Cross 6% Yield Mark

Bank of America’s 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L (BAC.PRL), traded as low as $1,187.18 on Thursday. Based on its $72.50 annualized dividend, the preferred shares yielded more than 6%. The item is a routine yield and trading-price update with limited expected impact on Bank of America common shares or broader markets.