Bank of America 2004 Annual Report Download - page 125

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(Dollars in millions) Aggregate Per
Principal Aggregate Annum
Amount of Principal Stated Interest Interest
Issuance Trust Amount of Maturity of Rate of Payment Redemption
Issuer Date Securities the Notes the Notes the Notes Dates Period
Summit
Capital Trust IMarch 1997 $ 150 $ 155 March 2027 8.40% 3/15, 9/15 On or after
3/15/07(2,19)
Progress
Capital Trust IJune 1997 9 9June 2027 10.50 6/1, 12/1 On or after
6/01/07(2,20)
Capital Trust II July 2000 6 6July 2030 11.45 1/19, 7/19 On or after
7/19/10(2,21)
Capital Trust III November 2002 10 10 November 2032 3-mo. LIBOR 5/15, 11/15 On or after
+33.5 bps 11/15/07(2)
Capital Trust IV December 2002 5 5January 2033 3-mo. LIBOR 1/7, 4/7, On or after
+33.5 bps 7/7, 10/7 1/07/08(1)
Total $ 9,764 $10,066
(1) 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, relating to capital
treatment of the Trust 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.
(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 Securities at a redemption price at least equal to the principal amount of the Notes.
(3) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.915 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 15, 2016 and thereafter.
(4) The Notes may be redeemed on or after April 15, 2007 and prior to April 15, 2008 at 103.85 percent of the principal amount, and thereafter, at prices declining to 100 percent on
April 15, 2017 and thereafter.
(5) The Notes may be redeemed on or after December 31, 2006 and prior to December 31, 2007 at 104.035 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 31, 2016 and thereafter.
(6) The Notes may be redeemed on or after December 31, 2006 and prior to December 31, 2007 at 103.7785 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 31, 2016 and thereafter.
(7) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.969 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 15, 2016 and thereafter.
(8) The Notes may be redeemed on or after December 1, 2006 and prior to December 1, 2007 at 104.03 percent of the principal amount, and thereafter, at prices declining to 100 percent on December 1,
2016 and thereafter.
(9) The Notes may be redeemed on or after December 1, 2006 and prior to December 1, 2007 at 103.975 percent of the principal amount, and thereafter, at prices declining to 100 percent on December 1,
2016 and thereafter.
(10) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and continuation 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.
(11) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and continuation 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 February 1, 2051.
(12) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and continuation 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 April 15, 2051.
(13) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and continuation 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 May 3, 2052.
(14) The Corporation may redeem the Notes prior to the indicated redemption period upon the occurrence and continuation 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 November 3, 2053.
(15) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.908 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 15, 2016 and thereafter.
(16) The Corporation may extend the stated maturity date of the junior subordinated notes to a date no later than March 15, 2051.
(17) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 104.125 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 15, 2016 and thereafter.
(18) The Notes may be redeemed on or after December 15, 2006 and prior to December 15, 2007 at 103.875 percent of the principal amount, and thereafter, at prices declining to 100 percent on
December 15, 2016 and thereafter.
(19) The Notes may be redeemed on or after March 15, 2007 and prior to March 15, 2008 at 104.20 percent of the principal amount, and thereafter, at prices declining to 100 percent on March 15, 2017
and thereafter.
(20) The Notes may be redeemed on or after June 1, 2007 and prior to June 1, 2008 at 105.25 percent of the principal amount, and thereafter, at prices declining to 100 percent on June 1, 2017
and thereafter.
(21) The Notes may be redeemed on or after July 19, 2010 and prior to July 19, 2011 at 102.861 percent of the principal amount, and thereafter, at prices declining to 100 percent on July 19, 2015
and thereafter.
124 BANK OF AMERICA 2004
Note 12
Commitments and Contingencies
In the normal course of business, the Corporation enters into a num-
ber of off-balance sheet commitments. These commitments expose
the Corporation to varying degrees of credit and market risk and are
subject to the same credit and market risk limitation reviews as
those recorded on the Corporation’s Consolidated Balance Sheet.
Credit Extension Commitments
The Corporation enters into commitments to extend credit such as loan
commitments, standby letters of credit (SBLCs) and commercial letters
of credit to meet the financing needs of its customers. The outstand-
ing unfunded lending commitments shown in the following table have
been reduced by amounts participated to other financial institutions of
$23.4 billion and $12.5 billion at December 31, 2004 and 2003,