8-KFinancial Events

BANK OF AMERICA CORP /DE/ 8-K Report, Financial Obligation (Aug 9, 2005)

Filed August 9, 2005For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

Bank of America Corporation (BAC) filed an 8-K on August 9, 2005, to report an amendment to its Euro Medium-Term Note Program. The primary disclosure is the increase in the maximum aggregate principal amount authorized to be outstanding under the program from a previous undisclosed limit to U.S. $20 billion. This expansion allows the company greater flexibility in accessing international capital markets for funding needs. The company stated that as of August 4, 2005, approximately U.S. $10.1 billion was outstanding, leaving roughly U.S. $9.9 billion available for future issuance under this program. These notes are issued under Regulation S and are not registered in the United States.

Key Highlights

  • 1Bank of America increased its Euro Medium-Term Note Program authorization to U.S. $20 billion.
  • 2This program allows for the issuance of senior and subordinated debt securities in international markets.
  • 3As of August 4, 2005, approximately U.S. $10.1 billion of notes were outstanding under the program.
  • 4This leaves approximately U.S. $9.9 billion available for future issuance.
  • 5The notes are issued pursuant to Regulation S and are not registered under the Securities Act of 1933.
  • 6The Amended and Restated Agency Agreement is effective as of August 4, 2005.

Frequently Asked Questions

The main purpose of this filing is to inform the Securities and Exchange Commission and investors that Bank of America has increased the maximum authorized amount for its Euro Medium-Term Note Program to U.S. $20 billion.

Euro Medium-Term Notes are debt securities issued by a company in the international capital markets. They can have various terms, including different currencies, interest rates, and maturities, as agreed between the issuer and the purchasers.

As of August 4, 2005, Bank of America had approximately U.S. $10.1 billion of principal amount of notes outstanding under the Euro Medium-Term Note Program.

The notes are issued under Regulation S and are not registered under the U.S. Securities Act of 1933. Therefore, they may not be offered or sold in the United States or to U.S. persons unless they are registered or an exemption from registration requirements applies.