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MBNA Capital C, 8.25% TOPrS Trust Orig Preferred Securities, Series C
Ticker Symbol: KRB-C* CUSIP: 55263V206 Exchange: NYSE
* NOTE: This security is no longer trading as of 9/20/2006
Security has been Called for: Wednesday, September 20, 2006
Aug. 21, 2006 -- Bank of America Corporation, as successor to MBNA Corporation, announced the redemption of its 8 1/4 percent Trust Originated Preferred Securities issued by MBNA Capital C. The redemption date will be September 20, 2006 with a redemption price of $25 per security plus accrued and unpaid distributions, if any, up to but excluding the redemption date of September 20, 2006. Holders of the securities will receive official notice of the redemption by mail. The paying agent for the redemption is The Bank of New York. For more information, holders of the securities may contact The Bank of New York at [1-800-254-2826] or write to The Bank of New York, P.O. Box 11265, Church Street Station, New York, NY 10286 (Attn: Fiscal Agency Department).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: MBNA Capital C, 8.25% Trust Originated Preferred Securities (TOPrS), liquidation amount $25 per share, guaranteed by MBNA Corp. (NYSE: KRB), redeemable at the issuer's option on or after 1/15/2002 at $25 per share plus accrued and unpaid dividends, maturing 4/15/2027, which may be extended to 4/15/2046, distributions of 8.25% per annum are paid quarterly on 1/15, 4/15, 7/15 & 10/15 to holders of record on the last day of the month prior to the payment date. The company has the right, at any time, to defer dividend payments for up to 20 consecutive quarters (but not beyond the maturity date). The trust's assets consist of the 8.25% Junior Subordinated Deferrable Interest Debentures Series C due 4/15/2027 (that may be extended to 4/15/2046) which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below. Bank of America Corporation merged with MBNA Corporation on 1/1/2006.
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Go to Parent Company's Record (BAC)
IPO - 2/25/1997 -
Link to IPO Prospectus
Market Value $39.2 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 100 North Tryon Street, Charlotte, NC 28255 |
| Main Phone Number |
704-386-5681 |
| Fax Number |
980-386-6699 |
| Investor Relations
Kevin Stitt
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980-386-5667
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| Toll Free Phone Number |
800-299-2265 |
| CEO - Brian T. Moynihan |
CFO - Charles H. Noski |
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