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Bank Of America Announces Oversubscription Of Tender Offers For Certain Senior Notes Due 2014

Stocks in this article: BAC

Bank of America Corporation and its wholly-owned subsidiary BAC Canada Finance Company (together, the “Offerors”) today announced that their pending tender offers (the “Offers”) for certain of their respective senior notes due 2014 listed in the table below (collectively, the “Notes”) have been oversubscribed. Pursuant to the terms of the Offers, the Offerors will accept approximately $4.0 billion in aggregate principal amount of Notes (or its equivalent in the currencies in which certain of the Notes are denominated).

As of 5:00 p.m., New York City time, on October 30, 2013, which was the “Early Tender Deadline” for the Offers, a total of approximately $4.6 billion in aggregate principal amount of the Notes (or its equivalent) had been tendered and not withdrawn.

The following table lists the series of Notes that are subject to the Offers, the acceptance priority level assigned to each series of Notes in the table below (the “Acceptance Priority Levels”), and the aggregate principal amount of each series that was tendered and not withdrawn as of the Early Tender Deadline:

Title of Notes     CUSIP Number/


    Acceptance Priority Level     Principal Amount Tendered (in millions)
Floating Rate Senior Notes due February 5, 2014 XS0285100391 1 EUR 104
5.375% Senior Notes due June 15, 2014 060505BM5/ US060505BM56 2 USD 114
4.625% Senior Notes due February 18, 2014 XS0186317417 3 EUR 118
Floating Rate Senior Notes due January 30, 2014 06051GEF2/ US06051GEF28 4 USD 25
Floating Rate Senior Notes due September 15, 2014 06050MDZ7/ US06050MDZ77 5 USD 30
Floating Rate Senior Notes due February 21, 2014 1 05518ZAM8/ CA05518ZAM82 6 CAD 526
5.125% Senior Notes due September 26, 2014 XS0323119973 7 EUR 105
5.125% Senior Notes due November 15, 2014 060505AU8/ US060505AU81 8 USD 149
3.250% Senior Notes due December 10, 2014 CH0018606365 9 CHF 272
Floating Rate Senior Notes due January 31, 2014 2 XS0284282356 10 EUR 1,027
5.450% Senior Notes due September 17, 2014 060505DM3/ CA060505DM31 11 CAD 27
4.450% Senior Notes due January 31, 2014 2 XS0284283081 12 EUR 219
5.000% Senior Notes due February 3, 2014 2 59018YSU6/ US59018YSU63 13 USD 208
Floating Rate Senior Notes due July 11, 2014 06051GEL9/ US06051GEL95 14 USD 191
Floating Rate Senior Notes due May 30, 2014 2 XS0302633598 15 EUR 104
4.875% Senior Notes due May 30, 2014 2 XS0302633168 16 EUR 558

_______________1 The Floating Rate Senior Notes due February 21, 2014 are obligations of BAC Canada Finance Company; all other issues of Notes are obligations of Bank of America Corporation.2 Originally issued by Merrill Lynch & Co., Inc.

The aggregate consideration payable for all valid tenders of Notes was approximately $4.7 billion based on the results of the Offers as of the Early Tender Deadline. Under the terms of the Offers, the maximum aggregate consideration payable for tendered Notes is $4.0 billion (or its equivalent). Accordingly, all tenders of Notes in series with Acceptance Priority Levels 1 through 15 will be accepted for purchase. In addition, approximately 12.5% of tenders in the series with Acceptance Priority Level 16 will be accepted for purchase. Tenders of Notes which are not accepted for purchase will be promptly returned to holders.

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