8-KOther Events

BANK OF AMERICA CORP /DE/ 8-K Report (Jun 8, 2004)

Filed June 8, 2004For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

This 8-K filing by Bank of America Corporation (BAC) on June 8, 2004, primarily details the company's action on May 27, 2004, to approve and execute the public offering of $750,000,000 aggregate principal amount of its 5 3/8% Senior Notes due June 2014. This offering was made through various underwriters under an established Underwriting Agreement, as further detailed in a prospectus supplement. The issuance of these senior notes falls under a previously filed Form S-3 registration statement, allowing for a delayed offering of various debt and equity securities up to an aggregate initial offering price of $30,000,000,000. For investors, this filing signifies a proactive capital-raising activity by Bank of America, aimed at strengthening its financial position and funding its operations and strategic initiatives through the issuance of long-term debt.

Key Highlights

  • 1Bank of America Corporation (BAC) announced the public offering of $750 million in 5 3/8% Senior Notes due June 2014.
  • 2The offering was approved by a Board of Directors Committee on May 27, 2004.
  • 3An Underwriting Agreement was executed on May 27, 2004, with various underwriters for the sale of these notes.
  • 4The notes were issued under a Form S-3 registration statement (Registration No. 333-112708), indicating a shelf offering mechanism.
  • 5This registration statement allows for a delayed offering of up to $30 billion in various unsecured debt securities, warrants, units, and preferred/common stock.
  • 6The filing includes exhibits such as the Underwriting Agreement, form of the Senior Note, legal opinion, committee resolutions, and a related news release.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report a material event: Bank of America's approval and execution of an Underwriting Agreement for the public offering of $750 million in 5 3/8% Senior Notes due June 2014.

The notes have a principal amount of $750,000,000, carry a coupon rate of 5 3/8%, and mature in June 2014. They are being offered to various underwriters.

This debt offering is part of a larger, previously established shelf registration statement (Form S-3) that allows Bank of America to issue up to $30 billion in various debt and equity securities on a delayed basis. This indicates ongoing capital management and funding activities.

The filing of the Underwriting Agreement signifies that Bank of America has formally engaged with investment banks to facilitate the sale of these new senior notes to the public. It confirms the terms and conditions under which the notes are being marketed and sold.