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Pricing Supplement No. 7 dated May 2, 1996 Registration No. 33-52571
(To Prospectus Supplement dated December 16, 1994 Rule 424(b)(3)
and Prospectus dated March 18, 1994)
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 Merrill Lynch & Co., Merrill
Lynch, Pierce, Fenner & Smith Incorporated ("Merrill Lynch") 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 Merrill Lynch. Net proceeds payable
by Merrill Lynch to Bank of Boston Corporation (the "Corporation") will be
99.924764% of the aggregate principal amount of the Senior Notes, or
$49,962,382, before deduction of expenses payable by the Corporation. In
connection with the sale of the Senior Notes, Merrill Lynch may be deemed to
have received compensation from the Corporation in the form of underwriting
discounts in the amount of .075236%, or $37,618.
DTC CUSIP #: 06420 MAH3
Principal Amount: $50,000,000
Issue Date: May 2, 1996
(Settlement Date): May 8, 1996
Stated Maturity Date: May 8, 1998
Interest Rate(s)
(Fixed Rate Notes): N/A
Initial Interest Rate
(Floating Rate Notes): To be determined on Settlement Date
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Interest Payment Dates: [ ] June 15 and December 15 of each year.
[X] Other: August 8, 1996 November 8, 1996
February 10, 1997 May 8, 1997
August 8, 1997 November 10, 1997
February 9, 1998 May 8, 1998
Interest Payment Period: Quarterly
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
[X] Federal Funds Rate
[ ] LIBOR Telerate
[ ] LIBOR Reuters
[ ] 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:
Index Maturity
(Floating Rate Notes): Daily
Index Currency
(LIBOR Notes): N/A
Designated LIBOR Page
(LIBOR Notes): N/A
Designated Fed Funds Effective Page
(Fed Funds Notes): Telerate Page 118
Designated CMT Telerate
Page (CMT Rate Notes): N/A
Designated CMT Maturity
Index (CMT Rate Notes): N/A
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Reuters Screen NYMF Page
(Prime Rate Notes): N/A
Spread (Plus or Minus)
(Floating Rate Notes): +.25
Spread Multiplier
(Floating Rate Notes): N/A
Interest Rate Formula
(Floating Rate Notes): Daily reset using prior day Fed Funds Effective Rate
plus .25% (Telerate Page 118)
Interest Reset Dates
(Floating Rate Notes): Daily
Interest Reset Period: Quarterly
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 May 8, 1996 to May
8, 1998.
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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
Other Provisions: Terms used but not defined in this Pricing Supplement shall
have the meanings specified in the above-referenced Prospectus Supplement.
