Bank of America Announces Full Redemption of Its Series AA Preferred Stock and Related Depositary Shares

Core Points - Bank of America Corporation will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA, with a liquidation preference of $25,000 per share [1] - The redemption will occur on March 17, 2025, at a price of $1,000 per depositary share, with declared dividends of $30.50 per depositary share for the current semi-annual period [2] - Dividends on the redeemed Depositary Shares will cease to accrue on the Redemption Date [2] Company Overview - Bank of America is a leading financial institution providing a full range of banking, investing, asset management, and financial services to individual consumers, small and middle-market businesses, and large corporations [4] - The company serves approximately 69 million clients in the U.S. through 3,700 retail financial centers and around 15,000 ATMs, with approximately 58 million verified digital users [4] - Bank of America is a global leader in wealth management, corporate and investment banking, and trading across various asset classes, serving clients worldwide [4]