BofA Sees $600 Million Writedown Tied to Merrill SecuritiesBy
Fourth-quarter pretax charge stems from 2009 acquisition
Trust preferred securities paid at least 7% interest
Bank of America Corp., the second-biggest U.S. lender, will post a $600 million pretax writedown in the fourth quarter as it redeems $2 billion of trust preferred securities tied to its 2009 acquisition of Merrill Lynch.
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