Prospectus exerpt:  Bank of America Corporation is offering 108,000,000 depositary shares, each representing a 1/1,000th interest in a share of our perpetual 8.20% Non-Cumulative Preferred Stock, Series H, $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.

Subject to regulatory approval, we may redeem the Preferred Stock on any dividend payment date on or after May 1, 2013, 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, or a duly authorized committee of our board of directors, quarterly, in arrears, on February 1, May 1, August 1, and November 1 of each year, beginning on August 1, 2008, at a rate of 8.20% per year (equivalent to $2.05 per depositary share per year). Dividends on the Preferred Stock will not be cumulative.