Bank Of America Announces Commencement Of Cash Tender Offers For Certain Subordinated Notes

The “Total Consideration” listed in the table above includes a cash payment of 30.00 in USD, EUR, GBP, CHF or CAD, as applicable, per 1,000 principal amount in USD, EUR, GBP, CHF or CAD, as applicable. This “Early Tender Payment” will be made only for Notes that are validly tendered prior to the “Early Tender Deadline” at 5:00 p.m., New York City time, on May 8, 2012, unless extended, and that are accepted for purchase. Notes that are tendered after the “Early Tender Deadline” will only be eligible to receive the “Tender Offer Consideration” for each series, which is an amount equal to the applicable Total Consideration for that series, minus 30.00 in USD, EUR, GBP, CHF or CAD, as applicable, per 1,000 principal amount in USD, EUR, GBP, CHF or CAD, as applicable.

The Offers will expire at midnight, New York City time, on May 22, 2012, unless extended. Tendered Notes may be withdrawn until 5:00 p.m., New York City time, on May 8, 2012, unless extended.

Payment for Notes of any series that is accepted for purchase will be made in the same currency in which such series of Notes is denominated. Payment is expected to occur within three business days after the expiration date. Holders of Notes accepted for purchase will also receive accrued and unpaid interest on their purchased Notes from the last interest payment date applicable to such Notes to, but not including, the payment date.

The complete terms and conditions of the Offers are described in the Offer to Purchase, dated April 25, 2012 (the "Offer to Purchase"), and the related Letters of Transmittal (the "Letters of Transmittal"). The Offers are not conditioned upon any minimum principal amount of Notes being tendered.

D.F. King & Co., Inc. is acting as tender agent and information agent for the Offers. Requests for documents and questions regarding procedures for submission of tenders should be directed to D.F. King & Co., Inc. at 800.549.6746 (U.S. toll-free), 212.269.5550 (international) or [e-mail]. You may also obtain these documents without charge by accessing http://www.dfking.com/bofa. Other questions regarding the Offers may be directed to BofA Merrill Lynch, the dealer manager for the Offers, at 888.292.0070 (U.S. toll-free) or 980.388.3646 (international).

This news release shall not constitute a solicitation to buy or an offer to purchase any securities. The Offers are being made only pursuant to the Offer to Purchase and the related applicable Letter of Transmittal. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful. None of the Offerors, the dealer manager, the tender agent or the information agent is making any recommendation as to whether holders should tender their Notes in the Offers.

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