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WASHINGTON — Taxpayers may collect $1.1 billion to $1.3 billion for Bank of America Corp. warrants demanded by the Treasury Department in exchange for bailout money.
“This sale will be among the biggest,” said Bernard Chriqui, vice president of equity derivatives trading at Nomura Securities International Inc., who provided the estimate. The firm may adjust the range after the Treasury said Friday that the auction of 88.4 million JPMorgan Chase & Co. warrants took in $936.1 million, less than Chriqui had forecast.
The Treasury is under pressure to get higher prices for warrants it holds in bailed-out lenders. Congress said buybacks earlier this year shortchanged the U.S. when the Treasury sold warrants for 66 percent of their fair value.
