SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. 2)*
PRIMUS GUARANTY LTD
___________________________________________________________
(Name of Issuer)
COMMON STOCK
___________________________________________________________
(Title of Class of Securities)
G72457107
______________________________
(CUSIP Number)
July 31, 2007
___________________________________________________________
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the Rule pursuant to which this
Schedule is filed:
[X] Rule 13d - 1(b)
[ ] Rule 13d - 1(c)
[ ] Rule 13d - 1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes.)
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Bank of America Corporation
56-0906609
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4,595,145
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 4,631,345
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,631,345
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.28%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
NB Holdings Corporation
56-1857749
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4,595,145
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 4,631,345
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,631,345
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.28%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Bank of America, NA
94-1687665
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4,594,478
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 4,630,678
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,630,681
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.02%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BK
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Banc of America Securities Holdings Corporation
56-2103478
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
664
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 664
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
664
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.00%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
HC
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Banc of America Securities LLC
56-2058405
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
664
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
664
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 0
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.00%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BD
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
United States Trust Company, N.A.
13-5459866
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4,555,253
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4,594,253
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 0
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
4,594,253
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
10.20%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
BK
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Columbia Management Group, LLC
94-1687665
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
36,425
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 36,425
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
36,425
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.08%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -----------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES
ONLY):
Columbia Management Advisors, LLC
94-1687665
- -----------------------------------------------------------------
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
- -----------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
- -----------------------------------------------------------------
36,425
5 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH
REPORTING
PERSON WITH
- -----------------------------------------------------------------
- -----------------------------------------------------------------
0
6 SHARED VOTING POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
36,425
7 SOLE DISPOSITIVE POWER
- -----------------------------------------------------------------
- -----------------------------------------------------------------
8 SHARED DISPOSITIVE POWER 0
- -----------------------------------------------------------------
- -----------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
36,425
- -----------------------------------------------------------------
- -----------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
[ ]
- -----------------------------------------------------------------
- -----------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.08%
- -----------------------------------------------------------------
- -----------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- -----------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Explanatory Note:
This Amendment No. 2 amends the statement on Schedule 13G filed by U.S. Trust
Corporation with the Securities and Exchange Commission on February 13, 2006,
as amended by Amendment No. 1 filed on February 14, 2007. U.S Trust
Corporation merged into Bank of America Corporation on July 1st, 2007.
Item 1(a). Name of Issuer:
Primus Guaranty Ltd
Item 1(b). Address of Issuer's Principal Executive Offices:
360 Madison Ave
23rd Floor
New York, NY 10017
Item 2(a). Name of Person Filing:
Bank of America Corporation
NB Holdings Corporation
Bank of America, N.A.
Banc of America Securities Holdings Corporation
Banc of America Securities LLC
United States Trust Company, N.A.
Columbia Management Group, LLC
Columbia Management Advisors, LLC
Item 2(b). Address of Principal Business Office or, if None, Residence:
Each Reporting Person has its or his principal business office at
100 North Tryon Street, Floor 25, Bank of America Corporate Center,
Charlotte, NC 28255.
Item 2(c). Citizenship:
Bank of America Corporation Delaware
NB Holdings Corporation Delaware
Bank of America, N.A. United States
Banc of America Securities Holdings Corporation Delaware
Banc of America Securities LLC Delaware
United States Trust Company, N.A. United States
Columbia Management Group, LLC Delaware
Columbia Management Advisors, LLC Delaware
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
G72457107
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act.
(e) [ ] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F).
(g) [X] A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act.
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act.
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box. [ ]
Item 4. Ownership:
With respect to the beneficial ownership of the reporting person,
see Items 5 through 11 of the cover pages to this Schedule 13G,
which are incorporated herein by reference.
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following [ ].
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on by the Parent Holding Company or
Control Person:
With respect to Subsidiary Identification and Classification, see
Items 5 through 11 of the cover pages to this Schedule 13G, which
are incorporated herein by reference.
Item 8. Identification and Classification of Members of the Group:
Not applicable.
Item 9. Notice of Dissolution of Group:
Not applicable.
Item 10. Certification:
By signing below each of the undersigned certifies that, to the
best of such undersigned's knowledge and belief, the securities
referred to above were acquired and are held in the ordinary course
of business and were not acquired and are not for the purpose of or
with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that
purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
Dated: August 9, 2007
Bank of America Corporation
NB Holdings Corporation
Bank of America NA
By: /s/ Lucille E. Reymann
_____________________
Charles F. Bowman
Senior Vice President
Columbia Management Group, LLC
Columbia Management Advisors, LLC
By: /s/ Christopher Wilson
_____________________
Christopher Wilson
Managing Director
Banc of America Securities Holdings Corporation
By: /s/ Robert Qutub
_____________________
Robert Qutub
President
Banc of America Securities LLC
By: /s/ Kenneth J. Blau
_____________________
Kenneth J. Blau
Principal
United States Trust Company, N.A.
By: /s/ Michael J. Murphy
_____________________
Michael J. Murphy
Senior Vice President
Exhibit 99.1
EXHIBIT 99.1 - JOINT FILING AGREEMENT
The undersigned hereby agree that they are filing this statement jointly
pursuant to Rule 13d-1(k)(1). Each of them is responsible for the timely
filing of such Schedule 13G and any amendments thereto, and for the
completeness and accuracy of the information concerning such person contained
therein; but none of them is responsible for the completeness or accuracy of
the information concerning the other persons making the filing, unless such
person knows or has reason to believe that such information is inaccurate.
In accordance with Rule 13d-1(k)(1) promulgated under the Securities and
Exchange Act of 1934, as amended, the undersigned hereby agree to the joint
filing with each other on behalf of each of them of to such a statement on
Schedule 13G with respect to the common stock of beneficially owned by each
of them. This Joint Filing Agreement shall be included as an exhibit to such
Schedule 13G.
Dated: August 9, 2007
Bank of America Corporation
NB Holdings Corporation
Bank of America, N.A.
By: /s/ Lucille E. Reymann
_____________________
Lucille E. Reymann
Senior Vice President
Columbia Management Group, LLC
Columbia Management Advisors LLC
By: /s/ Christopher Wilson
_____________________
Christopher Wilson
Managing Director
Banc of America Securities Holdings Corporation
By: /s/ Robert Qutub
_____________________
Robert Qutub
President
Banc of America Securities LLC
By: /s/ Kenneth J. Blau
_____________________
Kenneth J. Blau
Principal
United States Trust Company, N.A.
By: /s/ Michael J. Murphy
_____________________
Michael J. Murphy
Senior Vice President