Bank of America issues 80,000 Series WW preferred shares, sells 2,000,000 depositary shares
Bank of America filed documents on October 23, 2026 for a new series of preferred stock, Series WW, with a 7.200% fixed-rate reset non-cumulative dividend and a $25,000 liquidation preference per share. The filing says the bank sold 2,000,000 depositary shares, each representing a 1/25th interest in a Series WW preferred share. Under the terms, dividend payments on common and junior stock would face restrictions if the bank fails to pay full dividends on Series WW.
Key points
- Issued 80,000 shares of Series WW Preferred Stock on October 23, 2026
- Series WW carries a 7.200% fixed-rate reset non-cumulative dividend and a $25,000 liquidation preference per share
- Sold 2,000,000 depositary shares, each a 1/25th interest in a Series WW share, under an October 20, 2026 underwriting agreement
- If full Series WW dividends are not paid, common stock dividends and buybacks face restrictions
The filing
Written by AI on Nov 7, 2026, 11:17 PM ET, from this filing only.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.