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Pricing Supplement No. 18 dated June 24, 1996 Registration No. 33-52571
(To Prospectus Supplement dated December 16, 1994 Rule 424(b)(3)
and Prospectus dated March 18, 1994)
This Pricing Supplement modifies and supercedes
Pricing Supplement No. 14 dated June 13, 1996
BANK OF BOSTON CORPORATION
MEDIUM-TERM NOTES
DUE NINE MONTHS OR MORE FROM DATE OF ISSUE
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Except as set forth herein, the Senior Notes offered hereby are
"Floating Rate Notes" and have such terms as are described in the accompanying
Prospectus Supplement dated December 16, 1994, relating to Floating Rate Notes.
This Pricing Supplement relates to $50,000,000 aggregate principal amount of
Senior Notes that are being purchased, as principal, by Lehman Brothers Inc.
("Lehman Brothers") for resale to one or more investors at varying prices
relating to prevailing market conditions at the time or times of resale as
determined by Lehman Brothers. Net proceeds payable by Lehman Brothers to Bank
of Boston Corporation (the "Corporation") will be 100% of the aggregate
principal amount of the Senior Notes, or $50,000,000, before deduction of
expenses payable by the Corporation.
DTC CUSIP #: 06420 MAP5
Principal Amount: $50,000,000
Issue Date (Settlement Date): June 18, 1996
Stated Maturity Date: June 18, 1997
Interest Rate(s)
(Fixed Rate Notes): N/A
Initial Interest Rate
(Floating Rate Notes): 5.53%
Interest Payment Dates: [ ] June 15 and December 15 of each year.
[X] Other: September 18, 1996 December 18, 1996
March 18, 1997 June 18, 1997
Interest Payment Period: Quarterly
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Record Dates: [X] Fifteenth calendar day (whether or not a Business Day)
next preceding each Interest Payment Date.
Interest Rate Basis [ ] CMT Rate
(Floating Rate Notes): [ ] Commercial Paper Rate
[ ] Eleventh District Cost of Funds Rate
[ ] Federal Funds Rate
[ ] LIBOR Telerate
[ ] LIBOR Reuters
[X] Prime Rate
[ ] Treasury Rate
[ ] Other:
Interest Calculation
(Floating Rate Notes): [X] Regular Floating Rate Note
[ ] Floating Rate/Fixed Rate Note
Fixed Rate Commencement Date:
Fixed Interest Rate:
[ ] Inverse Floating Rate Note
Fixed Interest Rate:
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Index Maturity
(Floating Rate Notes): Daily
Index Currency
(LIBOR Notes): N/A
Designated LIBOR Page
(LIBOR Notes): N/A
Designated CMT Telerate
Page (CMT Rate Notes): N/A
Designated CMT Maturity
Index (CMT Rate Notes): N/A
Designated CMT Telerate
(Prime Rate Notes): Telerate Page 125
Spread (Plus or Minus)
(Floating Rate Notes): -2.72%
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Spread Multiplier
(Floating Rate Notes): N/A
Interest Rate Formula
(Floating Rate Notes): Prime Rate minus 2.72%
Interest Reset Dates
(Floating Rate Notes): Daily
Interest Reset Period: Daily
Interest Determination Dates
(Floating Rate Notes): Daily
Calculation Agent (if other
than the Bank)
(Floating Rate Notes): N/A
Minimum Interest Rate
(Floating Rate Notes): N/A
Maximum Interest Rate
(Floating Rate Notes): N/A
Redemption Date(s): N/A
Initial Redemption Percentage: N/A
Annual Redemption
Percentage Reduction: N/A
Holder's Optional
Repayment Date(s): N/A
Day Count Convention
(Floating Rate Notes): [ ] 30/360 for the period from _____________ to
________________.
[X] Actual/360 for the period from June 18, 1996
to June 18, 1997.
Original Issue
Discount Note: [ ] Yes
[X] No
Total Amount of OID: N/A
Yield to Maturity: N/A
Interest Accrual
Period: N/A
Default Rate: N/A
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Other Provisions:
The "Interest Determination Date" with respect to the Senior Notes
offered hereby will be the Business Day immediately preceding the applicable
Interest Reset Date.
For purposes of the Senior Notes offered hereby, "Prime Rate" means,
with respect to any Prime Rate Interest Determination Date, the rate on such
date as such rate is published in H.15(519) under the heading "Bank Prime
Loan." If such rate is not published prior to 3:00 P.M., New York City time, on
the related Calculation Date, then the Prime Rate shall be the arithmetic mean
of the rates of interest publicly announced by each bank that appears on the
Reuters Screen USPRIME1 (as defined below) as such bank's prime rate or base
lending rate as in effect for such Prime Rate Interest Determination Date. If
fewer than four such rates appear on the Reuters Screen USPRIME1 for such Prime
Rate Interest Determination Date, the Prime Rate shall be the arithmetic mean
of the prime rates quoted on the basis of the actual number of days in the year
divided by a 360-day year as of the close of business on such Prime Rate
Interest Determination Date by four major money center banks in The City of New
York (which may include affiliates of certain of the Agents) selected by the
Calculation Agent. If fewer than four major money center banks provide such
quotations, the Prime Rate will be determined by the Calculation Agent and will
be the arithmetic mean of four prime rates, quoted on the basis of the actual
number of days in the year divided by a 360-day year, as of the close of
business on such Prime Rate Interest Determination Date as furnished in The
City of New York by the major money center banks, if any, that have provided
quotations and as many substitute banks or trust companies as is necessary in
order to obtain four such prime rate quotations, provided such substitute banks
or trust companies are organized and doing business under the laws of the
United States, or any state thereof, each having total equity capital of at
least U.S. $500 million and being subject to supervision or examination by
federal or state authority, selected by the Calculation Agent to provide such
rate or rates; provided, however, that if the banks or trust companies selected
as aforesaid are not quoting as mentioned in this sentence, the Prime Rate
determined as of such Prime Rate Interest Determination Date shall be the Prime
Rate in effect on such Prime Rate Interest Determination Date. "Reuters Screen
USPRIME1" means the display designated as page "USPRIME1" on the Reuters
Monitor Money Rates Service (or such other page as may replace the USPRIME1
page on that service for the purpose of displaying prime rates or base lending
rates of major United States banks).
Terms used but not defined in this Pricing Supplement shall have the
meanings specified in the above-referenced Prospectus Supplement.
