Bank of America issues 100,000 shares of 6.250% Series UU Preferred Stock, raising $2.5B via depositary shares

BANK OF AMERICA CORP /DE/

• Issued 100,000 shares of 6.250% Fixed-Rate Reset Non-Cumulative Preferred Stock, Series UU, liquidation preference $25,000 per share.
• Sold 2,500,000 Depositary Shares (each representing 1/25th interest) for total proceeds of $2.5 billion.
• Certificate of Designations restricts dividends on common and junior/parity preferred if Series UU dividends are not fully paid.
• Offering closed July 24, 2025; underwriting agreement dated July 21, 2025.