Bank of America Announces the Redemption of $5.133 Billion of Trust Securities

Charlotte, NC - 5 October 2012

Bank of America Corporation announced that it will submit redemption notices to the property trustee for each trust listed in the table below, which will result in the redemption of all of the trust preferred securities of each such trust. The redemption date for the Floating Rate Preferred Securities issued by Progress Capital Trust III is November 15, 2012. The redemption date for all other trust preferred securities in the table below is November 5, 2012. The trust preferred securities will be redeemed at the applicable redemption price (as a percentage of the liquidation amount) listed in the table below, plus accrued and unpaid distributions on the trust preferred securities to the redemption date also listed below.

CUSIP No.

TrustTitle of Security

NYSE

Ticker

Symbol

Aggregate Liquidation

Amount Outstanding

Redemption Price

Accrued and

Unpaid

Distributions

per Security

Trustee/Paying Agent
055187207 BAC Capital Trust I 7% Capital Securities BAC PrW $574,438,900
($25 per Security)
100% $0.243056

The Bank of New York

Mellon Trust Company, N.A.

055188205 BAC Capital Trust II 7% Capital Securities BAC PrV $897,875,000
($25 per Security)
100% $0.019444

The Bank of New York

Mellon Trust Company, N.A.

05518E202 BAC Capital Trust III 7% Capital Securities BAC PrX $499,500,000
($25 per Security)
100% $0.388889

The Bank of New York

Mellon Trust Company, N.A.

055185201 BAC Capital Trust IV

5 7/8% Capital

Securities

BAC PrU $352,525,000
($25 per Security)
100% $0.016319

The Bank of New York

Mellon Trust Company, N.A.

055184204 BAC Capital Trust V 6% Capital Securities BAC PrY $496,825,000
($25 per Security)
100% $0.008333

The Bank of New York

Mellon Trust Company, N.A.

05633T209 BAC Capital Trust XII

6 7/8% Capital

Securities

BAC PrC $862,500,000
($25 per Security)
100% $0.014323

The Bank of New York

Mellon Trust Company, N.A.

065912AA5

BankAmerica

Institutional Capital B

7.7% Capital

Securities, Series B

$300,000,000
($1,000 per Security)
101.8893% $26.736111

Deutsche Bank Trust

Company Americas

628958AB6 NB Capital Trust II

7.83% Capital

Securities

$289,119,000
($1,000 per Security)
101.958% $30.450000

The Bank of New York

Mellon Trust Company, N.A.

74326WAA9 Progress Capital Trust III

Floating Rate Preferred
Securities

$10,000,000
($1,000 per Security)
100% (1)

The Bank of New York

Mellon Trust Company, N.A.

__________
(1) Accrued quarterly distributions of $9.46125 per security will be paid on November 15, 2012 to holders of record on October 31, 2012 in the customary manner.

The addresses of the Trustees/Paying Agents for the trusts listed in the table above are as follows:

The Bank of New York Mellon Deutsche Bank Trust Company Americas
101 Barclay Street, 8 West

New York, New York 10286

60 Wall Street, 27th Floor

New York, New York 10005

In addition, Bank of America announced that redemption notices will be submitted that will result in the redemption of $850 million aggregate liquidation preference amount outstanding of the 6.523% Fixed/Floating Noncumulative Trust Securities (CUSIP No. 003723AA1) of ABN AMRO North America Preferred Capital Repackaging Trust I. The redemption date for these securities is April 3, 2013, and the cash redemption price to be paid on the redemption date will be 100% of the liquidation preference amount of the trust securities, plus accrued and unpaid distributions to the redemption date. The Paying Agent for these trust securities is The Bank of New York Mellon, 101 Barclay Street, 8 West, New York, New York 10286.

Redemption of all of the trust securities referenced above is expected to result in a charge of approximately $100 million (pre tax) for the fourth quarter of 2012, and net interest income (pre tax) savings of approximately $50 million for the fourth quarter of 2012 and approximately $300 million for 2013.

All of the redemptions are being effected under the optional redemption provisions applicable to the trust securities of each trust, and not pursuant to redemption provisions relating to the determination of the occurrence of a “Capital Treatment Event.” Bank of America has received all necessary approvals for these redemptions.

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