The Treasury Department said it expects to earn $1.54 billion from selling Bank of America Corp. warrants.
The Treasury said it sold 150.3 million warrants with a strike price of $13.30 a share at $8.35 a warrant. Those warrants expire January 2019. A second sale involving 121.8 million warrants with a much higher strike price of $30.79 sold for $2.55 a warrant. Those warrants expire October 2018. Bank of America's shares closed Thursday up 0.2%, to $16.30.
The sales, handled through a modified Dutch auction, are expected to close March 9.