SVB Financial Group $350 Million Offering of Depositary Shares Representing 5.250% Non-Cumulative Perpetual Preferred Stock, Series A

Davis Polk advised the representatives of the several underwriters in connection with SVB Financial Group’s SEC-registered offering of 14,000,000 depositary shares, each representing a 1/40th ownership interest in a share of its 5.250% non-cumulative perpetual preferred stock, Series A, par value $0.001 per share, with a liquidation preference of $25 per depositary share (equivalent to $1,000 per share of Series A preferred stock). The gross proceeds from the offering totaled approximately $350 million.

Based in Santa Clara, California, SVB Financial Group is a diversified financial services company, as well as a bank holding company and a financial holding company offering a diverse set of banking and financial products and services to clients across the United States, as well as in key international innovation markets.

The Davis Polk capital markets team included partner Alan F. Denenberg and associates Bryan M. Quinn and Daniel Reichert. Counsel Daniel E. Newman provided regulatory advice. Partner Rachel D. Kleinberg and associate Adam R. Brownstone provided tax advice. Associate J. Taylor Arabian provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.