CHARLOTTE, N.C. – Bank of America Corporation announced today that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series DD (CUSIP numberNo. 060505EV2), liquidation preference twenty five thousand dollars$25,000 per share (the “Preferred Stock”), and the corresponding depositary shares each representing a one twenty fifth1/25^th interest in a share of the Preferred Stock (CUSIP numberNo. 060505EU4) (the “Depositary Shares”). 

The Depositary Shares will be redeemed simultaneously with the Preferred Stock on the upcoming dividend payment date on March 10, 2026 (the “Redemption Date”), at a redemption price of one thousand dollars$1,000 per depositary share. Declared dividends of thirty one dollars fifty cents$31.50 per depositary share in respect of the outstanding Depositary Shares for the full current semi-annual dividend period from, and including, September 10, 2025 to, but excluding, March 10, 2026 will be paid separately on March 10, 2026, to holders of record on February 15, 2026, in the customary manner. Accordingly, the redemption price of one thousand dollars$1,000 per depositary share does not include any accrued and unpaid dividends. Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date.

The Depositary Shares are held through The Depository Trust Company (“DTC”) and will be redeemed in accordance with the applicable procedures of DTC.

Payment to DTC for the Depositary Shares will be made by Computershare Inc. and Computershare Trust Company, N.A., collectively, as redemption agent. The address for the redemption agent is as follows:

Computershare Trust Company, N.A.
Attn: Corporate Actions
150 Royall St.
Canton, M.A. 02021

This press release does not constitute a notice of redemption under the certificate of designation governing the Preferred Stock or the deposit agreement governing the Depositary Shares.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly seventy million70 million clients with approximately three thousand six hundred3,600 retail financial centers, approximately fifteen thousand15,000 ATMs (automated teller machines) and award-winning digital banking with approximately fifty nine million59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately four million4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than thirty five35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Forward-looking statements

Certain information contained in this news release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of one thousand nine hundred ninety five1995. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions difficult to predict or beyond our control. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. “Risk Factors” in our Annual Report on Form ten K10-K for the year ended December 31, two thousand twenty four2024, and in any of our subsequent Securities and Exchange Commission filings. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.