What is the purpose of this $1.5 billion note offering?

The filing does not explicitly state the purpose of the offering. However, such issuances are typically undertaken by corporations to raise capital for general corporate purposes, such as funding operations, investments, acquisitions, or refinancing existing debt. Investors should refer to other company disclosures or seek further clarification for specific use of proceeds.

What are the key terms of the Senior Notes being offered?

The notes are 5.25% Senior Notes due in 2007. This means they carry an annual interest rate of 5.25% and are scheduled to mature in 2007. As senior notes, they rank above subordinated debt in the company's capital structure in the event of bankruptcy or liquidation.

Does this offering represent new registration for these securities?

No, the notes were issued under a previously filed shelf registration statement (Registration No. 333-83503) on a delayed basis, as permitted by Rule 415 of the Securities Act of 1933. This registration statement covered a broader range of potential debt and equity offerings.

What is the significance of the underwriting agreement and related exhibits?

The underwriting agreement outlines the terms and conditions between Bank of America and the investment banks (underwriters) who will facilitate the sale of the notes to the public. The exhibits, including the form of the note and legal opinions, provide further details on the specific structure, legality, and terms of the debt instrument being issued.

BANK OF AMERICA CORP /DE/ 8-K SEC Disclosure

Summary

This 8-K filing by Bank of America Corporation (BAC) on January 31, 2002, details the company's action to publicly offer $1.5 billion of 5.25% Senior Notes due in 2007. This offering was approved by a committee of the Board of Directors on January 25, 2002, and an underwriting agreement was subsequently executed with various underwriters. The issuance of these notes was conducted under a previously established shelf registration statement (Registration No. 333-83503) allowing for a delayed offering of various debt and equity securities. This action indicates Bank of America's strategy to manage its capital structure and potentially fund ongoing operations or strategic initiatives through debt issuance in the public markets.

Key Highlights

1Bank of America Corporation announced a public offering of $1,500,000,000 in aggregate principal amount of 5.25% Senior Notes due 2007.
2The offering was approved by a committee of the Board of Directors on January 25, 2002.
3An Underwriting Agreement was entered into on January 25, 2002, with various underwriters for the sale of these notes.
4The notes were issued under a shelf registration statement (Registration No. 333-83503) allowing for delayed offerings.
5The filing includes the Underwriting Agreement, the form of the Senior Note, an opinion of counsel, and resolutions of the Board Committee as exhibits.

BANK OF AMERICA CORP /DE/ 8-K Report (Jan 31, 2002)

Summary

Key Highlights

Frequently Asked Questions