Bank of America 2001 Annual Report Download - page 104

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BANK OF AMERICA 2001 ANNUAL REPORT
102
The following table is a summary of the outstanding trust preferred securities and the Notes at December 31, 2001 and 2000:
Aggregate Aggregate
Principal Principal
Amount of Amount of
Trust Preferred Trust Preferred Aggregate Per Annum
Securities Securities Principal Stated Interest Interest
Issuance December 31, December 31, Amount of Maturity of Rate of Payment Redemption
(Dollars in millions)
Date 2001 2000 the Notes the Notes the Notes Dates Period
NationsBank
Capital Trust I December 1996 $ 600 $ 600 $ 619 December 2026 7.84% 3/31,6/30, On or after
9/30,12/31 12/31/01(1)
Capital Trust II December 1996 365 365 376 December 2026 7.83 6/15,12/15 On or after
12/15/06(2,4)
Capital Trust III February 1997 494 494 516 January 2027 3-mo. LIBOR 1/15,4/15, On or after
+55 bps 7/15,10/15 1/15/07(2)
Capital Trust IV April 1997 498 498 516 April 2027 8.25 4/15,10/15 On or after
4/15/07(2,6)
BankAmerica
Institutional Capital A November 1996 450 450 464 December 2026 8.07 6/30,12/31 On or after
12/31/06(3,7)
Institutional Capital B November 1996 299 299 309 December 2026 7.70 6/30,12/31 On or after
12/31/06(3,8)
Capital I December 1996 300 300 309 December 2026(9) 7.75 3/31,6/30, On or after
9/30,12/31 12/20/01(5)
Capital II December 1996 450 450 464 December 2026 8.00 6/15,12/15 On or after
12/15/06(3,10)
Capital III January 1997 399 399 412 January 2027 3-mo. LIBOR 1/15,4/15, On or after
+57 bps 7/15,10/15 1/15/02(3)
Capital IV February 1998 350 350 361 March 2028 7.00 3/31,6/30, On or after
9/30,12/31 2/24/03(3)
Barnett
Capital I November 1996 300 300 309 December 2026 8.06 6/1,12/1 On or after
12/1/06(2,11)
Capital II December 1996 200 200 206 December 2026 7.95 6/1,12/1 On or after
12/1/06(2,12)
Capital III January 1997 250 250 258 February 2027 3-mo. LIBOR 2/1,5/1, On or after
+62.5 bps 8/1,11/1 2/1/07(2)
Bank of America
Capital I December 2001 575 – 593 December 2031 7.00 3/15,6/15, On or after
9/15,12/15 12/15/06(13)
Total $5,530 $4,955 $5,712
(1) The Corporation has announced the redemption of these notes on March 15, 2002, with a redemption price of $25 per security plus accrued and unpaid distributions, if any, up to but excluding
the redemption date of March 15, 2002.
(2) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence of certain events relating to tax treatment of the related trust or the Notes or relating to
capital treatment of the trust preferred securities or relating to a change in the treatment of the related trust under the Investment Company Act of 1940, as amended, at a redemption price at
least equal to the principal amount of the Notes.
(3) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence of certain events relating to tax treatment of the related trust or the Notes or relating to
capital treatment of the trust preferred securities at a redemption price at least equal to the principal amount of the Notes.
(4) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.915% of the principal amount, and thereafter at prices declining to 100% on December 15,
2016 and thereafter.
(5) The Corporation has announced the redemption of these notes on March 15, 2002, with a redemption price of $25 per security plus accrued and unpaid distributions, if any, up to but excluding
the redemption date of March 15, 2002.
(6) The Notes may be redeemed on or after April 15, 2007 and prior to April 14, 2008 at 103.85% of the principal amount, and thereafter at prices declining to 100% on April 15, 2017 and thereafter.
(7) The Notes may be redeemed on or after December 31, 2006 and prior to December 31, 2007 at 104.035% of the principal amount, and thereafter at prices declining to 100% on December 31,
2016 and thereafter.
(8) The Notes may be redeemed on or after December 31, 2006 and prior to December 31, 2007 at 103.779% of the principal amount, and thereafter at prices declining to 100% on December 31,
2016 and thereafter.
(9) At the option of the Corporation, the stated maturity may be shortened to a date not earlier than December 20, 2001 or extended to a date not later than December 31, 2045, in each case if
certain conditions are met.
(10)The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.969% of the principal amount, and thereafter at prices declining to 100% on December 15,
2016 and thereafter.
(11)The Notes may be redeemed on or after December 1, 2006 and prior to December 1, 2007 at 104.030% of the principal amount, and thereafter at prices declining to 100% on December 1, 2016
and thereafter.
(12)The Notes may be redeemed on or after December 1, 2006 and prior to December 1, 2007 at 103.975% of the principal amount, and thereafter at prices declining to 100% on December 1, 2016
and thereafter.
(13)The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and certification of a tax event, an investment company event or a capital treatment event.
The Corporation may extend the stated maturity date of the junior subordinated notes to a date no later than December 15, 2050.