| Preferred Stock Summary |
The following table summarizes the Parent’s preferred stock issued and outstanding at June 30, 2026 and Dec. 31, 2025. | | | | | | | | | | | | | | | | | | | | | Preferred stock summary (a) | Total shares issued and outstanding | | Carrying value (b) | | | (in millions) | | | June 30, 2026 | Dec. 31, 2025 | June 30, 2026 | Dec. 31, 2025 | | Per annum dividend rate (c) | | Series A | Greater of (i) SOFR plus 0.565% and (ii) 4.000% | 5,001 | | 5,001 | | | $ | 500 | | $ | 500 | | | Series F | 4.625% to but excluding Sept. 20, 2026, then SOFR plus 3.131% | 10,000 | | 10,000 | | | 990 | | 990 | | | | | | | | | | Series H | 3.700% to but excluding March 20, 2026, then a floating rate equal to the five-year treasury rate plus 3.352% | — | | 5,825 | | | — | | 576 | | | Series I | 3.750% to but excluding Dec. 20, 2026, then a floating rate equal to the five-year treasury rate plus 2.630% | 13,000 | | 13,000 | | | 1,287 | | 1,287 | | | Series J | 6.300% to but excluding March 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.297% | 5,000 | | 5,000 | | | 494 | | 494 | | | Series K | 6.150% to but excluding March 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.161% | 5,000 | | 5,000 | | | 494 | | 494 | | | Series L | 5.950% to but excluding Dec. 20, 2030, then a floating rate equal to the five-year treasury rate plus 2.271% | 5,000 | | 5,000 | | | 495 | | 495 | | | Series M | 5.625% to but excluding March 20, 2031, then a floating rate equal to the five-year treasury rate plus 2.034% | 5,000 | | — | | | 494 | | — | | | Total | 48,001 | | 48,826 | | | $ | 4,754 | | $ | 4,836 | |
(a) All outstanding preferred stock is noncumulative perpetual preferred stock with a liquidation preference of $100,000 per share. (b) The carrying value of the Series F, Series H, Series I, Series J, Series K, Series L and Series M preferred stock is recorded net of issuance costs. (c) References to SOFR are to a floating rate equal to the three-month CME Term SOFR (plus a spread adjustment of 0.26161% per annum).
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| Summary of Preferred Dividends Paid |
The table below presents the Parent’s preferred dividends.
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Preferred dividends | | | | | | | | | | | | | | | | (dollars in millions, except per share amounts) | Depositary shares
per share | | 2Q26 | | | | | 2Q25 | | YTD26 | | YTD25 | | Per share | Total
dividend | | | | | | | Per share | Total
dividend | | Per share | Total
dividend | | Per share | Total
dividend | | Series A | | 100 | | (a) | | $ | 1,178.10 | | $ | 6 | | | | | | | | $ | 1,311.33 | | $ | 7 | | | $ | 2,283.28 | | $ | 12 | | | $ | 2,606.50 | | $ | 14 | | | | | | | | | | | | | | | | | | | | | | | | Series F | | 100 | | | | — | | — | | | | | | | | — | | — | | | 2,312.50 | | 23 | | | 2,312.50 | | 23 | | | Series G | | 100 | | | | N/A | N/A | | | | | | | — | | — | | | N/A | N/A | | 2,350.00 | | 24 | | | Series H | | 100 | | | | 1,791.50 | | 16 | | | | | | | (b) | 925.00 | | 5 | | | 2,716.50 | | 21 | | (b) | 1,850.00 | | 10 | | | Series I | | 100 | | | | 937.50 | | 12 | | | | | | | | 937.50 | | 12 | | | 1,875.00 | | 24 | | | 1,875.00 | | 24 | | | Series J | | 100 | | | | — | | — | | | | | | | | N/A | N/A | | 3,150.00 | | 16 | | | N/A | N/A | | Series K | | 4,000 | | | | 1,537.50 | | 8 | | | | | | | | 1,640.00 | 8 | | 3,075.00 | | 16 | | | 1,640.00 | | 8 | | | Series L | | 100 | | | | 2,975.00 | | 15 | | | | | | | | N/A | N/A | | 2,975.00 | | 15 | | | N/A | N/A | | Series M | | 100 | | | | 1,640.63 | | 8 | | | | | | | | N/A | N/A | | 1,640.63 | | 8 | | | N/A | N/A | | Total | | | | | $ | 65 | | | | | | | | | $ | 32 | | | | $ | 135 | | | | $ | 103 | |
(a) Represents Normal Preferred Capital Securities. (b) Includes deferred fees of $6 million related to the redemption of the Series H preferred stock. N/A - Not applicable.
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