UPDATE 1-CCB investor sells $488 mln in shares-source

(Adds final price of sale)

HONG KONG, May 13 (Reuters) - An investor in China Construction Bank (0939.HK) has sold $488 million worth of shares at HK$4.88 each, according to a source on Wednesday.

The price of the shares being sold is just under CCB's closing price of HK$4.98 on the Hong Kong stock exchange on Tuesday.

UBS AG (UBSN.VX) was the bookrunner on the sale, according to a term sheet.

Bank of America (BAC.N) on Tuesday sold $7.3 billion worth of shares in CCB (601939.SS) to a group of investors at HK$4.20 each, or a 14.3 percent discount to their closing price on Monday.

(Reporting by Clare Jim; Editing by Chris Lewis)