Bank of America redeems all Series DD Preferred Stock and associated…

Bank of America has disclosed its decision to redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series DD along with the corresponding depositary shares. The redemption is scheduled to take place on March 10, 2026, the upcoming dividend payment date. Each depositary share, representing a 1/25th interest in a share of the Preferred Stock, will be redeemed at a price of $1,000 per depositary share, without including any accrued and unpaid dividends. Dividends of $31.50 per depositary share for the full current semi-annual dividend period will be paid separately on March 10, 2026, to holders of record on February 15, 2026. Following the Redemption Date, dividends on the redeemed Depositary Shares will no longer accrue.

The Depositary Shares are under the custody of The Depository Trust Company (DTC) and will be redeemed in line with DTC’s procedures. Payment for the Depositary Shares will be facilitated by Computershare Inc. and Computershare Trust Company, N.A., acting as the redemption agent. The redemption agent’s address for processing the payments is provided as Computershare Trust Company, N.A., Attn: Corporate Actions, 150 Royall St., Canton, MA 02021. It’s important to note that this press release does not serve as a legal notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement overseeing the Depositary Shares.

Bank of America stands as a prominent financial institution worldwide, catering to individual consumers, small and medium-sized businesses, and large corporations. The institution offers an extensive range of banking, investing, asset management, and financial services, emphasizing unmatched convenience. With around 70 million clients in the United States, Bank of America has approximately 3,600 retail financial centers, 15,000 ATMs, and a renowned digital banking platform with nearly 59 million verified digital users. Furthermore, Bank of America excels in wealth management, corporate and investment banking, and trading across diverse asset classes, providing services to governments, institutions, corporations, and individuals globally.

The company prioritizes small businesses by extending support to about 4 million households through a collection of user-friendly online products and services. Operating in the United States, its territories, and over 35 countries, Bank of America has established itself as a dependable financial partner for millions of clients.