8-KOther Events

BANK OF AMERICA CORP /DE/ 8-K Report (Nov 20, 2003)

Filed November 20, 2003For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

This 8-K filing from Bank of America Corporation (BAC) on November 20, 2003, primarily reports on the company's successful public offering of debt securities. The company issued $1 billion in 4 3/8% Senior Notes due 2010 and $700 million in 5 1/4% Subordinated Notes due 2015. These offerings were approved by a committee of the Board of Directors on November 13, 2003, and underwritten by various institutions. The issuance of these notes is part of Bank of America's ongoing strategy to manage its capital structure and fund its operations. Investors should note the specific interest rates and maturity dates of these new debt instruments. The details of these offerings, including the terms and conditions, were filed with the SEC and are made available through a prospectus supplement. The company has also filed relevant underwriting agreements and legal opinions as exhibits to this report.

Key Highlights

  • 1Bank of America Corporation (BAC) announced a public offering of $1,000,000,000 aggregate principal amount of 4 3/8% Senior Notes due 2010.
  • 2The company also announced a public offering of $700,000,000 aggregate principal amount of 5 1/4% Subordinated Notes due 2015.
  • 3These offerings were approved by a Committee of the Board of Directors on November 13, 2003.
  • 4Underwriting agreements were entered into with various underwriters for both the Senior and Subordinated Notes.
  • 5The offerings were made under a Registration Statement on Form S-3 (Registration No. 333-97197) on a delayed basis pursuant to Rule 415.
  • 6The disclosed interest rates are 4 3/8% for Senior Notes and 5 1/4% for Subordinated Notes.
  • 7The filing includes exhibits such as underwriting agreements, forms of the notes, legal opinions, and resolutions of the Board Committee.

Frequently Asked Questions

The primary purpose of this 8-K filing was to report on Bank of America Corporation's public offering of new debt securities: $1 billion in Senior Notes and $700 million in Subordinated Notes.

Bank of America issued $1 billion of 4 3/8% Senior Notes due 2010 and $700 million of 5 1/4% Subordinated Notes due 2015. These offerings were approved by the company's Board Committee and finalized through underwriting agreements.

The notes were offered under Bank of America's existing shelf registration statement on Form S-3 (Registration No. 333-97197), utilizing Rule 415 for delayed offerings. This allows companies to register securities in advance and then issue them over time.

Detailed information can be found in the exhibits accompanying this 8-K filing, including the underwriting agreements, the forms of the notes themselves, legal opinions, and the resolutions of the Board Committee that approved the offerings. A prospectus supplement dated November 13, 2003, also provides further details.