This paper presents a method for extracting novel spectral features based on a sinusoidal model. The method is focused on characterizing the spectral shapes of audio signals using spectral peaks in frequency sub-bands. The extracted features are evaluated for predicting the levels of emotional dimensions, namely arousal and valence. Principal component regression, partial least squares regression, and deep convolutional neural network (CNN) models are used as prediction models for the levels of the emotional dimensions. The experimental results indicate that the proposed features include additional spectral information that common baseline features may not include. Since the quality of audio signals, especially timbre, plays a major role in affecting the perception of emotional valence in music, the inclusion of the presented features will contribute to decreasing the prediction error rate.