No! 115200 BAUD means 115,200 BITS per second. Each character is (usually) 10 bits, so that is 11,520 char/sec.
How does the (internationally confusing) comma make a difference?
I think what @RayLivingston wants to tell is, that 115200 baud not automatically means 11520 chars per second. It depends on the bit/char, which can be more or less then 10 bit.
But on Arduino it almost always is 10 bit/char. And only in this case its 11520 char/sec. ( With or without the confusing ',' or '.' 
)
Note that if you have an Arduino with direct USB connections (like an Arduino Micro), the "Serial" connection will behave much differently than a UART connection. If the USB port isn't plugged in, attempts to do begin/print will hang indefinitely. (I never quite understood why the USB port wasn't made to behave the same way as the UART ports.)
Pedantically, and having nothing to do with this thread, "1200 baud" means 1200 signal changes per second. If you have a fancy MODEM, it can cram more than one bit into each signal change, and get (for example) 9600bps out 1200baud. That's how high-speed dial-up modems used to work (at least some of them.)
To my knowledge, that is not true. while(!Serial) will hang the board indefinitely if it's used standalone but you can begin() and print().
How about "symbols" per second?
115200 baud means 11520 char/sec,
and 11,520 == 11520 ...... are you trolling?
The IDE won't compile it.
Something like Charlieplexing?
QAM and Coded Modulation.