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Bank of America to redeem TruPs

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Bank of America to redeem TruPs

Bank of America Corp.plans to redeem approximately $1.97 billion in trust preferred securities Aug. 15,under the company's capital plan.

The company has received all regulatory approvals for the transactionsand will repay the TruPs at applicable redemption price, plus accrued and unpaiddistributions at the redemption date.

Under the plan, BofA will redeem 6% capital securities with anaggregate liquidation preference outstanding balance of approximately $523.8 million,6.75% trust preferred securities with an aggregate liquidation preference outstandingbalance of $500.0 million, and additional trust preferred securities with an aggregateliquidation preference outstanding balance of $950.0 million.