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TIDMBAC
RNS Number : 9876D
Bank of America Corporation
23 May 2012
May 23, 2012
Bank of America Announces Expiration and Final Results of Tender Offers for Certain Capital Securities
CHARLOTTE - Bank of America Corporation and its wholly-owned subsidiaries BANA Holding Corporation and NB Holdings Corporation (the "Offerors") today announced the expiration of their tender offers (the "Offers") for certain of their respective capital securities listed in the table below (collectively, the "Securities").
As of the "Expiration Date" for the Offers, which was midnight, New York City time, on May 22, 2012, a total of approximately $915 million (or its equivalent in British pounds) in aggregate principal amount of the Securities had been validly tendered and not withdrawn. All such tendered Securities will be accepted for purchase.
The following table lists the series of Securities that were subject to the Offers and the aggregate principal amount of each series of Securities tendered and not withdrawn as of the Expiration Date:
Aggregate
Liquidation
Preference
Dividend CUSIP Number/ Tendered
Title of Securities Rate Issuing Trust ISIN Offeror (in millions)
---------------------- ----------- ---------------- -------------- ------------ ---------------
Floating Rate 3mo L + NB Capital 62874FAA7 BofA USD 74
Capital Securities 55 bps Trust III
Floating Rate 3mo L + BankAmerica 066047AA9 BofA USD 67
Capital Securities, 57 bps Capital III
Series 3
Floating Rate 3mo L + BankBoston 06605YAA9 BofA USD 52
Capital Securities 60 bps Capital Trust
IV
Floating Rate 3mo L + Barnett Capital 06808NAE0 NB Holdings USD 111
Capital Securities 62.5 bps Trust III / 06808NAA8
Floating Rate 3mo L + BankBoston 06605VAA5 BofA USD 49
Capital Securities 75 bps Capital Trust
III
Floating Rate 3moL + BAC Capital 05518WAA1 BofA USD 50
Capital Securities 80 bps Trust XV
Floating Rate 3mo L + MBNA Capital 55263KAA9 BofA USD 37
Capital Securities, 80 bps B
Series B
Floating Rate 3mo L + Fleet Capital 33889WAA4 BofA USD 18
Capital Securities 100 bps Trust V
Fixed/Floating 3mo L + BAC LB Capital 00371G105 BANA USD 121
Rate Noncumulative 105.5 bps Funding Trust Holding
Trust Preferred I(1)
Securities
5[1/4]% Capital 5.250% BAC Capital XS0226849221 BofA GBP 61
Securities Trust VII
55/8% Capital BAC Capital
Securities 5.625% Trust VI 05518F209 BofA USD 134
65/8% Capital 6.625% BAC Capital 056335AA0 BofA USD 105
Securities Trust XI
(_______________)
1 Formerly known as ABN AMRO North America Capital Funding Trust I.
Payment for Securities of any series will be made in the same currency in which such series of Securities is denominated. Payment is expected to occur on May 25, 2012. Holders of Securities accepted for purchase will also receive accrued and unpaid interest on their purchased Securities from the last interest payment date applicable to such Securities to, but not including, the payment date.
The complete terms and conditions of the Offers are described in the Offer to Purchase, dated April 25, 2012 (the "Offer to Purchase"), and the related Letter of Transmittal (the "Letter of Transmittal").
The MBNA Capital B Floating Rate Capital Securities, Series B (CUSIP Number: 55263KAA9) are listed on the New York Stock Exchange. The BAC Capital Trust VII 5 [1/4]% Capital Securities (ISIN: XS0226849221) are listed on the London Stock Exchange. The remaining series of Securities that were subject to the Offers are not listed on any securities exchange or regulated market.
BofA Merrill Lynch acted as dealer manager for the Offers.
This announcement shall not constitute a solicitation to buy or an offer to purchase any securities. The Offers were made only pursuant to the Offer to Purchase and the related Letter of Transmittal.
Forward-Looking Statements
Certain statements in this announcement represent the current expectations, plans or forecasts of Bank of America and are forward-looking. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. These statements often use words like "expects," "anticipates," "believes," "estimates," "targets," "intends," "plans," "predict," "goal" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." The forward-looking statements made in this announcement include, without limitation, statements concerning the expected timing of payment for the tendered Securities. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.
These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the uncertainties and risks discussed under Item 1A. "Risk Factors" of Bank of America's Annual Report on Form 10-K for the year ended December 31, 2011 and in any of Bank of America's other subsequent Securities and Exchange Commission filings.
This information is provided by RNS
The company news service from the London Stock Exchange
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