Document:

THIS NOTE IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY.  THIS NOTE
IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS
A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE
DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE
REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

Unless
this Note is presented by an authorized representative of The Depository Trust
Company, a New York corporation (55 Water Street, New York, New York) ("DTC"),
to the Corporation or its agent for registration of transfer, exchange or
payment, and this Note is registered in the name of Cede & Co. or such
other name as requested by an authorized representative of DTC, and unless any
payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner
hereof, Cede & Co., has an interest herein.

THIS
NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT, IS NOT AN OBLIGATION OF OR
GUARANTEED BY ANY BANKING OR NONBANKING AFFILIATE OF BANK OF AMERICA
CORPORATION, AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR
ANY OTHER GOVERNMENTAL AGENCY.  

REGISTERED                                                                                    $500,000,000

NUMBER R-1                                                                                    CUSIP:
060505 DJ0

                                    ISIN:  US060505DJ00

ORIGINAL ISSUE DATE:  September
11, 2007                                                                                              

MATURITY DATE:  September 11,
2012

BASE RATE:   LIBOR Telerate
Page 3750                                                                                      

INDEX MATURITY: 90 Days                                                                                                           

SPREAD:  0.50%                                 

INTEREST PAYMENT DATES: March 11, June 11, September 11
and December 11 of each year

INTEREST RESET DATES: March
11, June 11, September 11 and December 11 of each year

INTEREST DETERMINATION DATES: 
Two London banking days prior to each Interest Payment Date

RECORD DATES:  One business
day prior to each Interest Payment Date for book-entry only notes; 

        March 1,
June 1, September 1 and December 1 of each year for notes not held in
book-entry only form          

CALCULATION AGENT:  The Bank of New York Trust Company,
N.A.

 

BANK OF AMERICA
CORPORATION

FLOATING RATE SENIOR NOTES, DUE SEPTEMBER
2012

BANK OF
AMERICA CORPORATION, a Delaware corporation (herein called the "Corporation,"
which term includes any successor corporation under the Indenture referred to
on the reverse hereof), for value received, hereby promises to pay to CEDE
& CO., or registered assigns, the principal sum of FIVE HUNDRED MILLION
DOLLARS ($500,000,000) on September 11, 2012 (except to the extent redeemed or
repaid prior to that date).  The Corporation will pay interest on such
principal amount for each quarterly interest period from the Original Issue
Date through the Maturity Date at a floating rate equal to Three-Month LIBOR
(as defined below) plus the Spread of 0.50%.  Interest shall be payable
commencing on the first Interest Payment Date succeeding the Original Issue
Date and on each Interest Payment Date thereafter and on the Maturity Date.  If
the Corporation shall default in the payment of interest due on an Interest
Payment Date, then this Note shall bear interest from the next preceding
Interest Payment Date for which interest has been paid, or, if no interest has
been paid on the Notes, from the Original Issue Date.

 

  

Interest on
this Note will accrue from the Original Issue Date until the principal amount
is paid or duly provided for and will be computed as described in this Note. 
Interest payable on this Note on any Interest Payment Date or on the Maturity
Date will include interest accrued from, and including, the preceding Interest
Payment Date for which interest has been paid or duly provided for (or from,
and including, the Original Issue Date if no interest has been paid or duly
provided for, as the case may be) to, but excluding, such Interest Payment Date
or Maturity Date, as the case may be.  If any Interest Payment Date falls on a
day that is not a Business Day (as defined below), such Interest Payment Date
shall be the following day that is a Business Day,   except if such next
Business Day falls in the next calendar month, such Interest Payment Date will
be the preceding day that is a Business Day; and if the Maturity Date falls on
a day that is not a Business Day, principal or interest payable with respect to
such Maturity Date will be paid on the next Business Day with the same force
and effect as if made on such Maturity Date, and no additional interest shall
accrue for the period from and after such Maturity Date.  In each such case,
except for the Interest Payment Date falling on the Maturity Date, the interest
periods and the Interest Reset Dates will be adjusted accordingly to calculate
the amount of interest payable on this Note.  Interest will be calculated using
the actual number of days in an interest period and a 360-day year. 

An interest
period is the period beginning on the Original Issue Date or an Interest
Payment Date and ending on the date immediately preceding the next following
Interest Payment Date or Maturity Date, as the case may be.  The interest rate
on this Note in effect for each interest period will be determined by the Calculation
Agent using Three-Month LIBOR on the Interest Determination Date for that
interest period.  The Calculation Agent will add Three-Month LIBOR as
determined on the Interest Determination Date to the Spread to calculate the
interest rate in effect for the applicable interest period.  

"Three-Month LIBOR"
means the London interbank offered rate for deposits of at least $1,000,000 in
U.S. dollars having an index maturity of three months, as that rate appears on
Telerate page 3750 at approximately 11:00 a.m., London time, on the Interest
Determination Date.  A "London banking day" is any day on which dealings in
deposits in U.S. dollars are transacted in the London interbank market.

If no offered
rate appears on Telerate page 3750 on an Interest Determination Date at
approximately 11:00 a.m., London time, then the Calculation Agent (after
consultation with the Corporation) will select four major banks in the London
interbank market and will request each of their principal London offices to
provide a quotation of the rate at which three-month deposits in U.S. dollars
in amounts of at least $1,000,000 are offered by it to prime banks in the
London interbank market, on that date and at that time, that is representative
of single transactions at that time.  If at least two quotations are provided, Three-Month
LIBOR will be the arithmetic average of the quotations provided.  Otherwise,
the Calculation Agent will select three major banks in New York City and shall
request each of them to provide a quotation of the rate offered by it at
approximately 11:00 a.m., New York City time, on the Interest Determination
Date for loans in U.S. dollars to leading European banks having an index
maturity of three months for the applicable interest period in an amount of at
least $1,000,000 that is representative of single transactions at that time. 
If three quotations are provided, Three-Month LIBOR will be the arithmetic
average of the quotations provided.  Otherwise, Three-Month LIBOR for the next
interest period will be equal to Three-Month LIBOR in effect for the then
current interest period.

                                                                                
2

 

The interest
so payable, and punctually paid or duly provided for, on any Interest Payment
Date will be paid to the person in whose name this Note (or one or more
predecessor Notes evidencing all or a portion of the same debt as this Note) is
registered at the close of business on the Record Date for such Interest
Payment Date, whether or not a Business Day.  "Business Day" means any weekday
that is not a legal holiday in New York, New York or Charlotte, North Carolina
and is not a day on which banking institutions in those cities are authorized
or required by law or regulation to be closed and that also is a London banking
day.  

The principal
of and interest on this Note are payable in immediately available funds in such
coin or currency of the United States as at the time of payment is legal tender
for payment of public and private debts, at the office or agency of the
Corporation in New York or such other places that the Corporation shall
designate as provided in such Indenture; provided, however, that interest may
be paid, at the option of the Corporation, by check mailed to the person
entitled thereto at his address last appearing on the registry books of the
Corporation relating to the Notes.  Notwithstanding the preceding sentence,
payments of principal of and interest payable on the Maturity Date will be made
by wire transfer of immediately available funds to a designated account
maintained in the United States upon (i) receipt of written notice by the
Issuing and Paying Agent (as described on the reverse hereof) from the
registered holder hereof not less than one Business Day prior to the due date
of such principal and (ii) presentation of this Note to the Issuing and Paying
Agent, at The Bank of New York Trust Company, N.A., 101 Barclay Street, New
York, New York 10286.  Any interest not punctually paid or duly provided for
shall be payable as provided in such Indenture.   

Reference is
made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place.

Unless the
certificate of authentication hereon has been executed by the Trustee or by an
authenticating agent on behalf of the Trustee by manual signature, this Note
shall not be entitled to any benefit under such Indenture or be valid or
obligatory for any purpose.

                                                                                           
3

 

IN WITNESS
WHEREOF, the Corporation has caused this Note to be duly executed, by manual or
facsimile signature, under its corporate seal or a facsimile thereof.

BANK OF
AMERICA CORPORATION

By:
_______________________________

[SEAL]                                                            Title:
Senior Vice President

ATTEST:

By:______________________

       Assistant Secretary

 

                                                                                       
4

 

CERTIFICATE
OF AUTHENTICATION

This is one of
the Securities of the series designated therein referred to in the
within-mentioned Indenture.

Dated:  September 11, 2007

THE BANK OF NEW YORK TRUST

COMPANY, N.A., 

as Trustee

By:__________________________

                        Authorized Signatory

 

 

 

[Reverse
of Note]

BANK OF AMERICA CORPORATION

FLOATING RATE SENIOR NOTES, DUE SEPTEMBER
2012

This Note is
one of a duly authorized series of Securities of the Corporation unlimited in
aggregate principal amount issued and to be issued under an Indenture dated
January 1, 1995 (herein called the "Indenture"), between the Corporation
(successor to NationsBank Corporation) and The Bank of New York Trust Company,
N.A., successor to The Bank of New York, as Trustee (successor in interest to
U.S. Bank Trust National Association, as successor trustee to BankAmerica
National Trust Company, herein called the "Trustee," which term includes any
successor trustee under the Indenture), as supplemented by a First Supplemental
Indenture dated September 18, 1998, a Second Supplemental Indenture dated
May 7, 2001, a Third Supplemental Indenture dated July 28, 2004 and a
Fourth Supplemental Indenture dated April 28, 2006, to which Indenture and all
indentures supplemental thereto reference is hereby made for a statement of the
respective rights thereunder of the Corporation, the Trustee and the holders of
the Notes (as defined herein), and the terms upon which the Notes are, and are
to be, authenticated and delivered.  The series of which this Note is a part
also is designated as the Corporation's Floating Rate Senior Notes, due September
2012 (herein called the "Notes"), initially in the principal amount of $550,000,000. 
The amount of Notes of this series may be increased by the Corporation in the
future.  The Trustee initially shall act as Security Registrar and
Authenticating and Issuing and Paying Agent in connection with the Notes.  

The Notes are
not subject to any sinking fund.  

            The provisions of Section 14.02 and Section 14.03 of the
Indenture do not apply to the Notes.

            As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Note may be registered on
the Security Register or registry books of the Corporation relating to the
Notes, upon surrender of this Note for registration of transfer at the office
or agency of the Corporation designated by it pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Corporation and the Trustee or the Security Registrar duly
executed by the registered holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

            No service charge will be made for any such registration
of transfer or exchange, but the Corporation may require payment of a sum
sufficient to cover any tax, assessment or other governmental charge payable in
connection therewith.

            Prior to due presentment for registration of transfer of
this Note, the Corporation, the Trustee, the Issuing and Paying Agent, and any
agent of the Corporation may treat the person in whose name this Note is
registered as the absolute owner hereof for the purpose of receiving payment as
herein provided and for all other purposes, whether or not this Note be
overdue, and

                                                                                    
6

 neither the Corporation, the Trustee, the Issuing and Paying
Agent, nor any such agent of the Corporation shall be affected by notice to the
contrary.

           The Notes are issuable only as registered notes without
coupons in denominations of $5,000 and whole multiples of $5,000.  As provided
in the Indenture, and subject to certain limitations therein set forth, the
Notes are exchangeable for a like aggregate principal amount of notes of
different authorized denominations, as requested by the holder surrendering the
same.

           If an Event of Default (defined in the Indenture as (i)
the Corporation's failure to pay the principal of (or premium, if any, on) any
Notes when due, or to pay interest on the Notes within 30 days after the same
becomes due, (ii) the Corporation's breach of its other covenants contained in
this Note or in the Indenture, which breach is not cured within 90 days after
written notice by the Trustee or the holders of at least 25% in outstanding
principal amount of all Securities issued under the Indenture and affected
thereby, and (iii) certain events involving the bankruptcy, insolvency or
liquidation of the Corporation) shall occur with respect to the Notes, the
principal of all the Notes may be declared due and payable in the manner and
with the effect provided in the Indenture.

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Corporation and the
rights of the holders of the Notes under the Indenture at any time by the
Corporation with the consent of the holders of not less than 662⁄3% in
aggregate principal amount of the Notes then outstanding and all other
Securities then outstanding under the Indenture and affected by such amendment
and modification.  The Indenture also contains provisions permitting the
holders of a majority in aggregate principal amount of the Notes then
outstanding and all other Securities then outstanding under the Indenture and
affected thereby, on behalf of the holders of all such Securities, to waive
compliance by the Corporation with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences.  Any such
consent or waiver by the holder of this Note shall be conclusive and binding
upon such holder and upon all future holders of this Note and of any Note
issued upon the registration of transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent or waiver is made upon this
Note.

No reference
herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Corporation, which is absolute and
unconditional, to pay the principal of and interest on this Note at the times,
place, and rate, and in the coin or currency, herein prescribed.

No recourse
shall be had for the payment of the principal of or the interest on this Note,
or for any claim based hereon, or otherwise in respect hereof, or based on or
in respect of the Indenture or any indenture supplemental thereto, against any
incorporator, stockholder, officer, or director, as such, past, present, or
future, of the Corporation or any predecessor or successor corporation, whether
by virtue of any constitution, statute, or rule of law, or by the enforcement
of any assessment or penalty or otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for issue hereof, expressly
waived and released.

          The Notes of this series shall be dated the date of
their authentication.

                                                                                 
7

 

           All terms used in this Note which are not defined
herein, but are defined in the Indenture shall have the meanings assigned to
them in the Indenture.

If the Notes
are to be issued and outstanding pursuant to a book-entry system, the following
paragraph is applicable: The Notes are being issued by means of a book-entry
system with no physical distribution of certificates to be made except as
provided in the Indenture.  The book-entry system maintained by DTC will
evidence ownership of the Notes, with transfers of ownership effected on the
records of DTC and its participants pursuant to rules and procedures
established by DTC and its participants.  The Corporation will recognize Cede
& Co., as nominee of DTC, while the registered holder of the Notes, as the
owner of the Notes for all purposes, including payment of principal, premium,
if any, and interest, notices, and voting.  Transfers of the principal,
premium, if any, and interest to beneficial owners of the Notes by participants
of DTC will be the responsibility of such participants and other nominees of
such beneficial owners.  So long as the book-entry system is in effect, the
selection of any Notes to be redeemed will be determined by DTC pursuant to
rules and procedures established by DTC and its participants.  The Corporation
will not be responsible or liable of such transfers or payments or for
maintaining, supervising, or reviewing the records maintained by DTC, its
participants, or persons acting through such participants.

 

 

                                                                            
8

ABBREVIATIONS

The following
abbreviations, when used in the inscription on the face of the within Note
shall be construed as though they were written out in full according to
applicable laws or regulations:

TEN COM‐‐   as tenants
in common

                        TEN ENT‐‐     as
tenants by the entireties

                        JT TEN‐‐         as
joint tenants with right of survivorship and not as tenants in common

                        UNIF GIFT MIN ACT‐‐............................Custodian..............................

                                                                            (Cust)                                 
(Minor)

Under Uniform Gifts to Minors Act

.........................................................

                                                                     (State)

Additional
abbreviations may also be used though not in the above list.

__________________________________

ASSIGNMENT

FOR VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

[PLEASE PRINT OR
TYPEWRITE NAME AND ADDRESS

INCLUDING
ZIP CODE, OF ASSIGNEE]

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Please Insert Social Security or Other 

           Identifying
Number of Assignee: ______________________________

the within Note and all rights
thereunder, hereby irrevocably constituting and appointing
_____________________________________ Attorney to transfer said Note on the
books of the Corporation, with full power of substitution in the premises.

Dated: _______________________               _________________________________________

NOTICE: The signature to this assignment must correspond
with the name as it appears upon the face of the within Note in every
particular, without alteration or enlargement or any change whatever and must
be guaranteed.

                                                                                          
9THIS NOTE IS A GLOBAL
SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITORY OR A NOMINEE OF A DEPOSITORY.  THIS NOTE
IS NOT EXCHANGEABLE FOR NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN THE
DEPOSITORY OR ITS NOMINEE, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE
INDENTURE, AND NO TRANSFER OF THIS NOTE (OTHER THAN A TRANSFER OF THIS NOTE AS
A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY OR BY A NOMINEE OF THE
DEPOSITORY TO THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY) MAY BE
REGISTERED EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE.

Unless
this Note is presented by an authorized representative of The Depository Trust
Company, a New York corporation (55 Water Street, New York, New York) ("DTC"),
to the Corporation or its agent for registration of transfer, exchange or
payment, and this Note is registered in the name of Cede & Co. or such
other name as requested by an authorized representative of DTC, and unless any
payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner
hereof, Cede & Co., has an interest herein.

THIS
NOTE IS NOT A SAVINGS ACCOUNT OR A DEPOSIT, IS NOT AN OBLIGATION OF OR
GUARANTEED BY ANY BANKING OR NONBANKING AFFILIATE OF BANK OF AMERICA
CORPORATION, AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR
ANY OTHER GOVERNMENTAL AGENCY. 

REGISTERED                                                                         $500,000,000

NUMBER R-1                                                                         CUSIP:
060505 DL5

                                                                                                 ISIN:
US060505DL55

                                                                                                            

BANK OF AMERICA
CORPORATION

6.50% SUBORDINATED NOTES, DUE SEPTEMBER
2037

BANK OF
AMERICA CORPORATION, a Delaware corporation (herein called the "Corporation,"
which term includes any successor corporation under the Indenture referred to
on the reverse hereof), for value received, hereby promises to pay to CEDE
& CO., or its registered assigns, the principal sum of FIVE HUNDRED MILLION
DOLLARS ($500,000,000) on September 15, 2037 (except to the extent redeemed or
repaid prior to that date).  The Corporation will pay interest on such
principal amount at the rate of 6.50% per annum, until payment of such
principal amount has been made or duly provided for, semi-annually in arrears
on March 15 and September 15 of each year (each, an "Interest Payment Date").  Interest
shall be payable on each Interest Payment Date, beginning on March 15, 2008,
and at the stated maturity (the "Maturity Date") or earlier redemption or
repayment.  If the Corporation shall default in the payment of interest due on
an Interest Payment Date, then this Note shall bear interest from the next
preceding Interest Payment Date for which interest has been paid, or, if no
interest has been paid on the Notes, from September 11, 2007 (the "Original
Issue Date").  

Interest on
this Note will accrue from the Original Issue Date until the principal amount
is paid or duly provided for.  Interest (including payments for partial
periods) will be computed on the basis of a 360-day year of twelve 30-day
months.  Interest payable on this Note on any Interest Payment Date or on the
Maturity Date, as the case may be, will include interest accrued from, and
including, the preceding Interest Payment Date for which interest has been paid
or duly provided for (or from, and including, the Original Issue Date if no
interest has been paid or duly provided for) to, but excluding, such Interest
Payment Date or Maturity Date, as the case may be.  If any Interest Payment
Date or the Maturity Date falls on a day that is not a Business Day (as defined
below), interest or principal payable with respect to such Interest Payment
Date or Maturity Date will be paid on the next Business Day with the same force
and effect as if made

 

 on such Maturity Date or Interest Payment Date, as the
case may be, and no additional interest shall accrue as a result of that
postponement.  The interest so payable, and punctually paid or duly provided
for, on any Interest Payment Date will be paid to the person in whose name this
Note (or one or more predecessor Notes evidencing all or a portion of the same
debt as this Note) is registered at the close of business on the Record Date
for such Interest Payment Date, whether or not a Business Day.  The "Record
Date" for Notes held in book-entry only form shall be one Business Day prior to
the relevant Interest Payment Date and, for Notes not held in book-entry only
form, March 1 and September 1 prior to the relevant Interest Payment Date. 
"Business Day" means any weekday that is not a legal holiday in New York, New
York or Charlotte, North Carolina and is not a day on which banking
institutions in those cities are authorized or required by law or regulation to
be closed.  

The principal
and interest on this Note are payable in immediately available funds in such
coin or currency of the United States of America as at the time of payment is
legal tender for payment of public and private debts, at the office or agency
of the Corporation in New York or such other places that the Corporation shall
designate as provided in the Indenture (as described on the reverse hereof);
provided, however, that interest may be paid, at the option of the Corporation,
by check mailed to the person entitled thereto at his address last appearing on
the registry books of the Corporation relating to the Notes.  Notwithstanding
the preceding sentence, payments of principal of and interest payable on the
Maturity Date will be made by wire transfer of immediately available funds to a
designated account maintained in the United States upon (i) receipt of written
notice by the Issuing and Paying Agent (as described on the reverse hereof)
from the registered holder hereof not less than one Business Day prior to the
due date of such principal and (ii) presentation of this Note to the Issuing
and Paying Agent, at The Bank of New York Trust Company, N.A., 101 Barclay
Street, New York, New York 10286.  Any interest not punctually paid or duly
provided for shall be payable as provided in the Indenture.  

Reference is
made to the further provisions of this Note set forth on the reverse hereof,
which shall have the same effect as though fully set forth at this place.

Unless the
certificate of authentication hereon has been executed by the Trustee or by an
authenticating agent on behalf of the Trustee by manual signature, this Note
shall not be entitled to any benefit under the Indenture or be valid or
obligatory for any purpose.

 

                                                                           
2

IN WITNESS
WHEREOF, the Corporation has caused this Note to be duly executed, by manual or
facsimile signature, under its corporate seal or a facsimile thereof.

BANK OF
AMERICA CORPORATION

By:
_______________________________

[SEAL]                                                            Title:
Senior Vice President

ATTEST:

By:______________________

          Assistant Secretary

 

                                                                                   
3

CERTIFICATE
OF AUTHENTICATION

This is one of
the Securities of the series designated therein referred to in the
within-mentioned Indenture.

Dated:  September 11, 2007

THE BANK OF NEW YORK TRUST

COMPANY, N.A., as Trustee

By:__________________________

                       Authorized Signatory

 

          
4

 

[Reverse
of Note]

BANK OF AMERICA CORPORATION

6.50%  SUBORDINATED NOTES, DUE SEPTEMBER
2037

This Note is
one of a duly authorized series of Securities of the Corporation unlimited in
aggregate principal amount issued and to be issued under the Subordinated
Indenture dated as of January 1, 1995 (as supplemented from time to time, the
"Indenture") between the Corporation and The Bank of New York Trust Company,
N.A. (as successor trustee to The Bank of New York and herein called the
"Trustee," which term includes any successor trustee under the Indenture), to
which Indenture and all indentures supplemental thereto reference is hereby
made for a statement of the respective rights thereunder of the Corporation,
the Trustee and the holders of the Notes (as defined herein), and the terms
upon which the Notes are, and are to be, authenticated and delivered.  The
series of which this Note is a part also is designated as the Corporation's 6.50%
Subordinated Notes, due September 2037 (herein called the "Notes"), initially
in the principal amount of $500,000,000.  The amount of Notes of this series
may be increased by the Corporation in the future.  The Trustee initially shall
act as Security Registrar and Authenticating and Issuing and Paying Agent in
connection with the Notes.  

THE INDEBTEDNESS
OF THE CORPORATION EVIDENCED BY THE NOTES, INCLUDING THE PRINCIPAL THEREOF AND
INTEREST THEREON, IS, TO THE EXTENT AND IN THE MANNER SET FORTH IN THE
INDENTURE, SUBORDINATE AND JUNIOR IN RIGHT OF PAYMENT TO ITS OBLIGATIONS TO
HOLDERS OF SENIOR INDEBTEDNESS, AS DEFINED IN THE INDENTURE, AND EACH HOLDER OF
THE NOTES, BY THE ACCEPTANCE HEREOF, AGREES TO AND SHALL BE BOUND BY SUCH
PROVISIONS OF THE INDENTURE.

The Notes are
not subject to any sinking fund.  

            The provisions of Section 14.02 and Section 14.03 of the
Indenture do not apply to the Notes.

           As provided in the Indenture and subject to certain
limitations therein set forth, the transfer of this Note may be registered on
the Security Register or registry books of the Corporation relating to the Notes,
upon surrender of this Note for registration of transfer at the office or
agency of the Corporation designated by it pursuant to the Indenture, duly
endorsed by, or accompanied by a written instrument of transfer in form
satisfactory to the Corporation and the Trustee or the Security Registrar duly
executed by the registered holder hereof or his attorney duly authorized in
writing, and thereupon one or more new Notes, of authorized denominations and
for the same aggregate principal amount, will be issued to the designated
transferee or transferees.

          No service charge will be made for any such registration
of transfer or exchange, but the Corporation may require payment of a sum
sufficient to cover any tax, assessment or other governmental charge payable in
connection therewith.

                                                                                   
6

 

          Prior to due presentment for registration of transfer of
this Note, the Corporation, the Trustee, the Issuing and Paying Agent and any
agent of the Corporation may treat the person in whose name this Note is
registered as the absolute owner hereof for the purpose of receiving payment as
herein provided and for all other purposes, whether or not this Note be
overdue, and neither the Corporation, the Trustee, the Issuing and Paying Agent
nor any such agent of the Corporation shall be affected by notice to the
contrary.

           The Notes are issuable only as registered notes without
coupons in denominations of $5,000 and whole multiples of $5,000.  As provided
in the Indenture, and subject to certain limitations therein set forth, the
Notes are exchangeable for a like aggregate principal amount of notes of
different authorized denominations, as requested by the holder surrendering the
same.

           If an Event of Default (defined in the Indenture as
certain events involving the bankruptcy of the Corporation) shall occur with
respect to the Notes, the principal of, interest accrued on, and other amounts
then payable on, the Notes may be declared due and payable in the manner and
with the effect provided in the Indenture.  THERE IS NO RIGHT OF ACCELERATION
PROVIDED IN THE INDENTURE IN CASE OF A DEFAULT IN THE PAYMENT OF INTEREST OR
THE PERFORMANCE OF ANY OTHER COVENANT BY THE CORPORATION.

The Indenture
permits, with certain exceptions as therein provided, the amendment thereof and
the modification of the rights and obligations of the Corporation and the
rights of the holders of the Notes under the Indenture at any time by the
Corporation with the consent of the holders of not less than 662⁄3% in
aggregate principal amount of the Notes then outstanding and all other
Securities then outstanding under the Indenture and affected by such amendment
and modification.  The Indenture also contains provisions permitting the
holders of a majority in aggregate principal amount of the Notes then
outstanding and all other Securities then outstanding under the Indenture and
affected thereby, on behalf of the holders of all such Securities, to waive
compliance by the Corporation with certain provisions of the Indenture and
certain past defaults under the Indenture and their consequences.  Any such
consent or waiver by the holder of this Note shall be conclusive and binding
upon such holder and upon all future holders of this Note and of any Note
issued upon the registration of transfer hereof or in exchange herefor or in
lieu hereof whether or not notation of such consent or waiver is made upon this
Note.

No reference
herein to the Indenture and no provision of this Note or of the Indenture shall
alter or impair the obligation of the Corporation, which is absolute and
unconditional, to pay the principal of and interest on this Note at the times,
place, and rate, and in the coin or currency, herein prescribed.

No recourse
shall be had for the payment of the principal of or the interest on this Note,
or for any claim based hereon, or otherwise in respect hereof, or based on or
in respect of the Indenture or any indenture supplemental thereto, against any
incorporator, stockholder, officer, or director, as such, past, present, or
future, of the Corporation or any predecessor or successor corporation, whether
by virtue of any constitution, statute, or rule of law, or by the enforcement
of any assessment or penalty or otherwise, all such liability being, by the
acceptance hereof and as part of the consideration for issue hereof, expressly
waived and released.

                                                                                  
6

 

          The Notes of this series shall be dated the date of
their authentication.

           All terms used in this Note which are not defined
herein, but are defined in the Indenture shall have the meanings assigned to
them in the Indenture.

If the Notes
are to be issued and outstanding pursuant to a book-entry system, the following
paragraph is applicable: The Notes are being issued by means of a book-entry
system with no physical distribution of certificates to be made except as
provided in the Indenture.  The book-entry system maintained by DTC will
evidence ownership of the Notes, with transfers of ownership effected on the
records of DTC and its participants pursuant to rules and procedures
established by DTC and its participants.  The Corporation will recognize Cede
& Co., as nominee of DTC, while the registered holder of the Notes, as the
owner of the Notes for all purposes, including payment of principal, premium,
if any, and interest, notices, and voting.  Transfers of the principal,
premium, if any, and interest to beneficial owners of the Notes by participants
of DTC will be the responsibility of such participants and other nominees of
such beneficial owners.  So long as the book-entry system is in effect, the
selection of any Notes to be redeemed will be determined by DTC pursuant to
rules and procedures established by DTC and its participants.  The Corporation
will not be responsible or liable of such transfers or payments or for
maintaining, supervising, or reviewing the records maintained by DTC, its
participants, or persons acting through such participants.

 

                                                                         
7

 

ABBREVIATIONS

The following
abbreviations, when used in the inscription on the face of the within Note
shall be construed as though they were written out in full according to
applicable laws or regulations:

TEN COM‐‐   as tenants
in common

                        TEN ENT‐‐     as
tenants by the entireties

                        JT TEN‐‐         as
joint tenants with right of survivorship and not as tenants in common 

                        UNIF GIFT MIN ACT‐‐............................Custodian..............................

                                                                       (Cust)                                 
(Minor)

Under Uniform Gifts to Minors Act

......................................................... 

                                                                      (State)

Additional
abbreviations may also be used though not in the above list.

__________________________________

ASSIGNMENT

FOR VALUE
RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

[PLEASE PRINT OR
TYPEWRITE NAME AND ADDRESS

INCLUDING
ZIP CODE, OF ASSIGNEE]

_____________________________________________________________________________

_____________________________________________________________________________

_____________________________________________________________________________

Please Insert Social Security or Other 

           Identifying
Number of Assignee: ______________________________

the within Note and all rights
thereunder, hereby irrevocably constituting and appointing
_____________________________________ Attorney to transfer said Note on the
books of the Corporation, with full power of substitution in the premises.

Dated: _______________________               _________________________________________

NOTICE: The signature to this assignment must correspond
with the name as it appears upon the face of the within Note in every
particular, without alteration or enlargement or any change whatever and must
be guaranteed.

                                                                                     
8

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