Certain Municipal Issuers or Conduit Borrowers have determined to participate in the auction of their own auction rate securities pursuant to recent guidance from the U.S. Securities & Exchange Commission. These Issuers/Conduit Borrowers are required to provide a notice of their intent to participate in the auction and the interest rate and amounts that they will bid for and certain other detailed bidding information. The Issuer/Conduit Borrower’s interests are different from any other bondholder in that they want the lowest possible interest rate.
BofA Securities, Inc. (“BofAS”) is registered with the U.S. Securities and Exchange Commission and the Municipal Securities Rulemaking Board (“MSRB”). Information about the MSRB and the municipal securities market can be found on the MSRB’s website. In addition, an investor brochure describing the protections that may be provided by the MSRB rules and information on how to file a complaint with an appropriate regulatory authority is available by accessing the MSRB’s website.
“BofA Securities” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. This document is for informational purposes only, and any prices data are reflected herein are is indicative, for illustrative purposes only, and subject to change without notice. Under no circumstances should this document be used or considered an offer to sell or a solicitation predictive of any potential outcome related to offerings of any to buy securities or financial products mentioned in it. The information contained herein has been obtained or derived from sources believed by us to be reliable, but we do not represent that it is accurate or complete and it should not be relied upon as such. BofA Securities may be providing or may have provided advisory, investment banking, banking or other services to issuers or entities mentioned herein. BofA Securities and/or its officers and employees may from time to time acquire, hold or sell a position in the securities of financial products mentioned herein or in related futures or options. If BofA Securities is used in connection with the purchase or sale of any security or financial product mentioned herein, BofA Securities may act as principal for its own account or as agent for both the buyer and the seller. BofA Securities may have managed or comanaged a public offering of the securities mentioned in this document in the last three years. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation including, in the United States, BofA Securities Incorporated which is a registered broker-dealer and a member of FINRA and the SIPC.