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of approximately $4.6 billion in aggregate principal amount of the Notes (or its equivalent) had been tendered and not withdrawn.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below (the “Acceptance Priority Levels”), and the aggregate principal amount of each series that was tendered and not withdrawn as of the Early Tender Deadline: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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