BofA Note Sales Drop 62 Percent as Investors Diversify
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Bank of America Corp.’s U.S. structured note issuance tumbled 62 percent last year as buyers diversified by buying more securities from overseas banks.
The bank fell to the 10th largest issuer last year with $2.44 billion of sales after being No. 1 in 2012 and 2013, according to data compiled by Bloomberg from prospectuses filed with the U.S. Securities and Exchange Commission. Credit Suisse Group AG captured the top spot, selling $5.27 billion of the securities in the U.S. last year, about twice as much as in 2013.