Merrill Lynch & Co., Inc.
MER-PK
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Brian Moynihan
- Full Time Employees
- 213,000
- Sector
- Financial Services
- Industry
- Banks - Diversified
- Address
- 100 North Tryon Street Charlotte NC United States of America 28255
- IPO Date
- Jan 12, 2007
- Website
- bankofamerica.com
- Similar Companies
- Business
- Merrill Lynch Capital Trust I GTD CAP 6.45% (MER-PK) operates as a special purpose entity formed to issue trust preferred securities, specifically its 6.45% Guaranteed Capital Securities due December 15, 2066, which provide fixed income payments to investors; these securities function as hybrid debt instruments with cumulative dividends and are traded on the New York Stock Exchange under the ticker MER-PK. The trust's primary activity centers on holding junior subordinated debentures issued by Merrill Lynch & Co., now integrated within Bank of America Corporation following the 2008 acquisition and 2013 merger, enabling capital raising for the parent entity's financial services operations including investment banking, wealth management, and brokerage. The trust offers a single core product line consisting of its 6.45% fixed-rate preferred securities with a liquidation preference of $25 per share, quarterly dividend payments of approximately $0.403, and no common equity or additional service offerings; it targets institutional and retail fixed income investors seeking yield in the preferred securities market segment. Geographically, operations are based in the United States, with the trust headquartered in New York, New York, aligned with the legacy Merrill Lynch headquarters at 250 Vesey Street prior to its absorption by Bank of America. Established in the pre-2008 era as part of Merrill Lynch's capital structure—likely around 2006-2007 based on similar trust issuances—the entity has no independent subsidiaries but relates ultimately to Bank of America Corporation as its parent guarantor. Recent developments include ongoing dividend stability with quarterly payouts maintained through 2025 amid market volatility, as evidenced by trading activity and ex-dividend dates such as June 13, 2025; institutional ownership adjustments, with funds like iShares Preferred and Income Securities ETF holding significant positions totaling over 5.9 million shares as of late 2025. Analyst actions feature a Citigroup upgrade in November 2024 for related Bank of America preferred securities, reflecting positive sentiment spillover; no major acquisitions, new issuances, or structural changes have occurred in the last 1-2 years, underscoring the trust's static role post-Merrill Lynch's integration into Bank of America. The securities have shown price resilience, trading in a 52-week range of approximately $21.01 to $27.50, with a dividend yield around 6.3%.