Bank of America Corporation $1.31 Billion Preferred Stock Offering

Davis Polk advised the lead manager, sole book-runner and representative of the several underwriters in connection with Bank of America Corporation’s $1.31 billion SEC-registered offering of 52,400,000 depositary shares, each representing a 1/1000th interest in a share of Bank of America Corporation’s perpetual 5.000% non-cumulative preferred stock, Series LL.

The Davis Polk tax team also advised Bank of America Corporation in connection with the foregoing offering.

The Davis Polk corporate team included partners John G. Crowley and John Banes and associates Michael J. Russo and John K. Rostom. The tax team included partners Po Sit and Lucy W. Farr and associates Joseph M. Gerstel and Shay Moyal. All members of the Davis Polk team are based in the New York office.