New Issue-Bank of America sells $2.7 bln in perpetuals

May 20 (Reuters) - Bank of America Corp (BAC.N: Quote, Profile, Research, Stock Buzz) on Tuesday
sold $2.7 billion in Series H non-cumulative perpetual
preferreds, said market sources.

The size of the deal was increased from an originally
planned $300 million.

Bank of America Securities was the sole book-running
manager for the sale.
BORROWER: BANK OF AMERICA CORPORATION
AMT $2.7 BLN* COUPON 8.20 PCT MATURITY PERPETUAL
TYPE PERP PREF ISS PRICE $25 PER FIRST PAY 8/1/2008

DEPOSITARY SHARE
MOODY'S A1 YIELD N/A SETTLEMENT 5/23/2008
S&P A-PLUS SPREAD N/A PAY FREQ QUARTERLY
FITCH AA-MINUS NON-CALLABLE 5-YEARS**
*108 MLN DEPOSITARY SHARES, $25 PAR
**CALLABLE ON 5/1/2013 AND ON ANY DIV PAYMENT DATE THEREAFTER