Bank of America 2009 Annual Report Download - page 170

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AMRO North America Holding Company) and its subsidiary, LaSalle, that
issued preferred securities (Funding Securities). These subsidiary funding
vehicles have invested the proceeds of their Funding Securities in sepa-
rate series of preferred securities of BACNAH or LaSalle, as applicable
(BACNAH Preferred Securities). The BACNAH Preferred Securities (and the
corresponding Funding Securities) are non-cumulative and permit
nonpayment of dividends within certain limitations. The issuance dates
for the BACNAH Preferred Securities (and the related Funding Securities)
range from 2000 to 2001. These Funding Securities are subject to
mandatory redemption upon repayment by the issuer of the corresponding
series of BACNAH Preferred Securities at a redemption price equal to
their liquidation amount plus accrued and unpaid distributions for up to
one quarter.
For additional information on Trust Securities for regulatory capital
purposes, see Note 16 – Regulatory Requirements and Restrictions.
168
Bank of America 2009