Brian T. Moynihan | Chair of the Board and Chief Executive Officer, Bank of America Corporation | Bank of America website
Bank of America Corporation has announced its plan to redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series AA, along with the corresponding depositary shares. The redemption will occur on March 17, 2025, which is also the dividend payment date. Each depositary share will be redeemed at a price of $1,000.
The declared dividends for the period from September 17, 2024, to March 17, 2025, amounting to $30.50 per depositary share, will be paid separately on March 17, 2025. The record date for holders is set for March 1, 2025. Once redeemed, dividends on these shares will cease to accrue.
The Depositary Shares are held through The Depository Trust Company and will follow DTC's procedures for redemption. Computershare Inc. and Computershare Trust Company, N.A., will act as the redemption agent.
This announcement does not serve as an official notice of redemption under the governing certificate or agreement for the Preferred Stock and Depositary Shares.
Bank of America continues to operate as a leading financial institution worldwide. It provides services ranging from banking and investing to asset management across numerous countries. With significant presence in retail financial centers and digital platforms in the U.S., it supports millions of consumers and businesses globally.
Investors can reach out to Lee McEntire or Jonathan G. Blum at Bank of America for more information regarding this announcement.
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