Bank of America Corporation $1.3975 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 $1.3975 billion SEC-registered offering of 55,900,000 depositary shares (including 2,900,000 depositary shares purchased pursuant to the exercise of the underwriter’s over-allotment option), each representing a 1/1000th interest in a share of Bank of America Corporation’s perpetual 5.375% non-cumulative preferred stock, Series KK.

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 partner Po Sit and associate Joseph M. Gerstel. All members of the Davis Polk team are based in the New York office.