Prospectus exerpt:  Bank of America Corporation is offering 74,000,000 depositary shares, each representing a 1/1,000th interest in a share of our perpetual Floating Rate Non-Cumulative Preferred Stock, Series E, $0.01 par value, with a liquidation preference of $25,000 per share (equivalent to $25 per depositary share) (the “Preferred Stock”). Each depositary share entitles the holder, through the depository, to a proportional fractional interest in all rights and preferences of the Preferred Stock represented by the depositary share.

We may redeem the Preferred Stock on any dividend payment date on or after November 15, 2011, in whole or in part, at a redemption price equal to $25,000 per share (equivalent to $25 per depositary share), plus any declared and unpaid dividends, without accumulation of any undeclared dividends.

We will pay dividends on the Preferred Stock, when, as, and if declared by our board of directors, quarterly, in arrears, on February 15, May 15, August 15, and November 15 of each year, beginning February 15, 2007, at a rate per year equal to the greater of (a) three-month LIBOR plus a spread of 0.35%, and (b) 4.00%. Dividends on the Preferred Stock will not be cumulative.