Issuer:
|
Bank of America Corporation | |
Security:
|
Depositary Shares, each representing a 1/25th interest in a share of Bank of America Corporation Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M | |
Expected Ratings:
|
A1 (Moodys) / A+ (S&P) / AA- (Fitch) | |
Size:
|
4,000,000 Depositary Shares | |
Public Offering Price:
|
$1,000 per depositary share | |
Maturity:
|
Perpetual | |
Trade Date:
|
April 24, 2008 | |
Settlement Date:
|
April 30, 2008 (DTC) | |
Dividend Rate (Non-Cumulative):
|
From April 30, 2008 to, but excluding, May 15, 2018, 8.125% and thereafter, Three-Month LIBOR plus 3.64% | |
Dividend Payment Dates:
|
Beginning November 15, 2008, each November 15 and May 15 through May 15, 2018 and thereafter each February 15, May 15, August 15, and November 15. | |
Day Count:
|
From April 30, 2008 to, but excluding, May 15, 2018, 30/360 and thereafter Actual/360 | |
Optional Redemption:
|
On any Dividend Payment Date on or after May 15, 2018 (subject to limitations described in the prospectus supplement dated April 24, 2008) | |
Lead Manager:
|
Banc of America Securities LLC | |
Senior Co-Managers:
|
Deutsche Bank Securities Inc. UBS Securities LLC |
|
Junior Co-Managers:
|
Cabrera Capital Markets, LLC Loop Capital Markets, LLC |
|
CUSIP for the Depositary Shares:
|
060505 DT8 |