Bank of America

Investor Relations

Bank of America Announces Expiration and Final Results of Tender Offers for Certain Capital Securities

CHARLOTTE, N.C.--(BUSINESS WIRE)--May. 23, 2012-- Bank of America Corporation and its wholly-owned subsidiaries BANA Holding Corporation and NB Holdings Corporation (the "Offerors") today announced the expiration of their tender offers (the "Offers") for certain of their respective capital securities listed in the table below (collectively, the "Securities").

As of the "Expiration Date" for the Offers, which was midnight, New York City time, on May 22, 2012, a total of approximately $915 million (or its equivalent in British pounds) in aggregate principal amount of the Securities had been validly tendered and not withdrawn. All such tendered Securities will be accepted for purchase.

The following table lists the series of Securities that were subject to the Offers and the aggregate principal amount of each series of Securities tendered and not withdrawn as of the Expiration Date:

Title of Securities Dividend Rate Issuing Trust CUSIP Number/



Aggregate Liquidation Preference Tendered (in millions)

Floating Rate Capital Securities 3mo L + 55 bps NB Capital Trust III 62874FAA7 BofA USD 74
Floating Rate Capital Securities, Series 3 3mo L + 57 bps BankAmerica Capital III 066047AA9 BofA USD 67
Floating Rate Capital Securities 3mo L + 60 bps BankBoston Capital Trust IV 06605YAA9 BofA USD 52
Floating Rate Capital Securities 3mo L + 62.5 bps Barnett Capital Trust III 06808NAE0 / 06808NAA8 NB Holdings USD 111
Floating Rate Capital Securities 3mo L + 75 bps BankBoston Capital Trust III 06605VAA5 BofA USD 49
Floating Rate Capital Securities 3moL + 80 bps BAC Capital Trust XV 05518WAA1 BofA USD 50
Floating Rate Capital Securities, Series B 3mo L + 80 bps MBNA Capital B 55263KAA9 BofA USD 37
Floating Rate Capital Securities 3mo L + 100 bps Fleet Capital Trust V 33889WAA4 BofA USD 18
Fixed/Floating Rate Noncumulative Trust Preferred Securities 3mo L + 105.5 bps

BAC LB Capital Funding Trust I1

00371G105 BANA Holding USD 121
5¼% Capital Securities 5.250% BAC Capital Trust VII XS0226849221 BofA GBP 61
5⅝% Capital Securities 5.625% BAC Capital Trust VI 05518F209 BofA USD 134
6⅝% Capital Securities 6.625% BAC Capital Trust XI 056335AA0 BofA USD 105


1 Formerly known as ABN AMRO North America Capital Funding Trust I.


Payment for Securities of any series will be made in the same currency in which such series of Securities is denominated. Payment is expected to occur on May 25, 2012. Holders of Securities accepted for purchase will also receive accrued and unpaid interest on their purchased Securities from the last interest payment date applicable to such Securities to, but not including, the payment date.

The complete terms and conditions of the Offers are described in the Offer to Purchase, dated April 25, 2012 (the "Offer to Purchase"), and the related Letter of Transmittal (the "Letter of Transmittal").

BofA Merrill Lynch acted as dealer manager for the Offers.

This news release shall not constitute a solicitation to buy or an offer to purchase any securities. The Offers were made only pursuant to the Offer to Purchase and the related Letter of Transmittal.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Forward-Looking Statements

Certain statements in this news release represent the current expectations, plans or forecasts of Bank of America and are forward-looking. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." The forward-looking statements made in this press release include, without limitation, statements concerning the expected timing of payment for the tendered Notes. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks discussed under Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2011 and in any of Bank of America's other subsequent Securities and Exchange Commission filings.

For more Bank of America news, visit the Bank of America newsroom.

Source: Bank of America Corporation

Investors May Contact:
Patricia Noneman, Bank of America, 1.980.388.3591
Jonathan G. Blum, Bank of America, 1.212.449.3112
Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840

Bank of America

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The financial and other information that may be accessed on this Investor Relations web site speaks only as of the particular dates referenced in the information or the dates the information was originally issued. This information may have since become superseded as a result of later circumstances or events. Bank of America does not undertake any obligation, and disclaims any duty, to update this information. In addition, this information may contain forward-looking statements that are subject to various risks and uncertainties that could cause actual outcomes or results to differ materially from those expressed in or implied by any forward-looking statement. The risks and uncertainties that could affect the company's actual outcomes or results are discussed more fully in our most recent Annual Report on Form 10-K, as well as any updated risks and uncertainties contained in subsequent reports filed with the Securities and Exchange Commission.