Obbligazione America Bank Corporation 6.1% ( US060505EN03 ) in USD

America Bank Corporation

99.95 USD ⇌

Stati Uniti

US060505EN03 ( in USD )

6.1% per anno ( pagato 2 volte l'anno)

perpetue

Prospetto opuscolo dell'obbligazione Bank of America Corporation US060505EN03 en USD 6.1%, scadenza perpetue

1 000 USD

1 900 000 000 USD

060505EN0

BBB- ( Lower medium grade - Investment-grade )

N/A

17/03/2026 ( In 128 giorni )

Bank of America Corporation è una delle maggiori istituzioni finanziarie globali, offrendo una vasta gamma di servizi bancari e finanziari a privati, aziende e istituzioni.

The Obbligazione issued by America Bank Corporation ( United States ) , in USD, with the ISIN code US060505EN03, pays a coupon of 6.1% per year.
The coupons are paid 2 times per year and the Obbligazione maturity is perpetue
The Obbligazione issued by America Bank Corporation ( United States ) , in USD, with the ISIN code US060505EN03, was rated BBB- ( Lower medium grade - Investment-grade ) by Standard & Poor's ( S&P ) credit rating agency.

424(b)(5)
424B5 1 d884696d424b5.htm 424(B)(5)
Table of Contents
Filed Pursuant to Rule 424(b)(5)
Registration No. 333-180488

1,900,000 Depositary Shares, Each Representing a 1/25th Interest in a Share of Fixed-to-Floating
Rate Non-Cumulative Preferred Stock, Series AA
Bank of America Corporation is offering 1,900,000 depositary shares, each representing a 1/25th interest in a share of our perpetual Fixed-to-
Floating Rate Non-Cumulative Preferred Stock, Series AA, $0.01 par value, with a liquidation preference of $25,000 per share (equivalent to
$1,000 per depositary share) (the "Preferred Stock"). Each depositary share entitles the holder, through the depository, to a proportional fractional
interest in all rights and preferences of the Preferred Stock represented by the depositary share.
We may at our option redeem the Preferred Stock at any time on or after March 17, 2025, in whole or in part, at a redemption price equal to
$25,000 per share (equivalent to $1,000 per depositary share), plus any accrued and unpaid dividends for the then-current dividend period to but
excluding the redemption date, without accumulation of any undeclared dividends. We also may redeem the Preferred Stock upon certain events
involving capital treatment as described in this prospectus supplement. Redeeming the Preferred Stock will cause the corresponding depositary
shares to be redeemed.
Holders of the Preferred Stock will be entitled to receive, only when, as, and if declared by our board of directors or a duly authorized committee
of our board, and to the extent we have funds legally available for the payment of dividends, cash dividends at a rate equal to (1) 6.100% per
annum (equivalent to $61.00 per depositary share per annum) for each semi-annual dividend period from the original issue date of the Preferred
Stock to, but excluding, March 17, 2025, and (2) three-month LIBOR plus a spread of 3.898% per annum for each quarterly dividend period
beginning March 17, 2025. When, as, and if declared by our board of directors or a duly authorized committee of our board, we will pay the semi-
annual dividend payments, in arrears, on March 17 and September 17 of each year beginning September 17, 2015, and quarterly dividend
payments, in arrears, on March 17, June 17, September 17, and December 17 of each year beginning on June 17, 2025. Dividends on the Preferred
Stock will not be cumulative.
We do not intend to apply to list the depositary shares or the Preferred Stock on any securities exchange.
Investing in the depositary shares involves risks. See "Risk Factors" beginning on page S-8.

The depositary shares are unsecured and are not savings accounts, deposits, or other obligations of a bank. The depositary shares are not
guaranteed by Bank of America, N.A. or any other bank and are not insured by the Federal Deposit Insurance Corporation or any other
governmental agency.
Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed
upon the adequacy or accuracy of this prospectus supplement or the attached prospectus. Any representation to the contrary is a criminal offense.

Per Depositary

Share

Total

Public offering price(1)

$
1,000
$1,900,000,000
Underwriting commissions

$
15
$
28,500,000
Proceeds to Bank of America Corporation (before expenses)(1)

$
985
$1,871,500,000

(1)
Plus accrued cash dividends, if any, that may be declared from March 17, 2015 to the date of delivery.
The underwriters expect to deliver the depositary shares in book-entry only form through the facilities of The Depository Trust Company on or
about March 17, 2015.
Sole Book-Runner
BofA Merrill Lynch
Goldman, Sachs & Co.
ABN AMRO

ANZ Securities

Banca IMI
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
BBVA

BMO Capital Markets

BNY Mellon Capital Markets, LLC
Capital One Securities

COMMERZBANK

Credit Agricole CIB
Danske Markets Inc

Deutsche Bank Securities

ING
J.P. Morgan

Lloyds Securities

MUFG
Mizuho Securities

nabSecurities, LLC

Natixis
RBS

Santander

Scotiabank
Standard Chartered Bank

Huntington Investment Company

UniCredit Capital Markets
Loop Capital Markets

Mischler Financial Group, Inc.

Ramirez & Co., Inc.
Siebert Brandford Shank & Co., L.L.C.

Telsey Advisory Group

The Williams Capital Group, L.P.

Prospectus Supplement to Prospectus dated February 24, 2015
March 12, 2015
Table of Contents
TABLE OF CONTENTS

Prospectus Supplement

Page

Page
Description of Universal Warrants

44
About this Prospectus Supplement

S-3
Modification

45
Summary

S-4
Enforceability of Rights of Warrantholders; No Trust Indenture Act
Risk Factors

S-8
Protection

46
Description of the Preferred Stock

S-12
Description of Purchase Contracts

46
General

S-12
General

46
Dividends

S-12
Purchase Contract Property

46
Liquidation Rights

S-15
Information in Supplement

47
Optional Redemption

S-16
Prepaid Purchase Contracts; Applicability of Indenture

48
Voting Rights

S-17
Non-Prepaid Purchase Contracts; No Trust Indenture Act
Preemptive and Conversion Rights

S-19
Protection

48
Outstanding Preferred Stock

S-19
Pledge by Holders to Secure Performance

48
Authorized Classes of Preferred Stock

S-20
Settlement of Purchase Contracts That Are Part of Units

49
Additional Classes or Series of Stock

S-20
Failure of Holder to Perform Obligations

49
Depository, Transfer Agent, and Registrar

S-20
Description of Units

50
Calculation Agent

S-20
General

50
Description of the Depositary Shares

S-21
Unit Agreements: Prepaid, Non-Prepaid, and Other

50
General

S-21
Modification

51
Dividends and Other Distributions

S-21
Enforceability of Rights of Unitholders; No Trust Indenture Act
Redemption of Depositary Shares

S-22
Protection

51
Voting the Preferred Stock

S-22
Description of Preferred Stock

52
Form and Notices

S-22
General

52
Registration and Settlement

S-23
Dividends

53
Book-Entry System

S-23
Voting

53
Same Day Settlement

S-23
Liquidation Preference

53
Payment of Dividends

S-23
Preemptive Rights

53
Notices

S-24
Existing Preferred Stock

53
U.S. Federal Income Tax Considerations

S-25
Additional Classes or Series of Stock

83
ERISA Considerations

S-26
Description of Depositary Shares

83
Underwriting (Conflicts of Interest)

S-27
General

83
Selling Restrictions

S-29
Terms of the Depositary Shares

83
Legal Matters

S-31
Withdrawal of Preferred Stock

83
Prospectus

Dividends and Other Distributions

84

Page
Redemption of Depositary Shares

84
About this Prospectus

3
Voting the Deposited Preferred Stock

84
Prospectus Summary

4
Amendment and Termination of the Deposit Agreement

85
Risk Factors

9
Charges of Depository

85
Currency Risks

9
Miscellaneous

85
Reform of LIBOR and EURIBOR and Proposed Regulations of
Resignation and Removal of Depository

85
These and Other "Benchmarks"

11
Description of Common Stock

86
Risks Related to our Common Stock and Preferred Stock

13
General

86
Other Risks

14
Voting and Other Rights

86
Bank of America Corporation

16
Dividends

86
Use of Proceeds

16
Certain Anti-Takeover Matters

87
Description of Debt Securities

17
Registration and Settlement

88
General

17
Book-Entry Only Issuance

88
The Indentures

17
Certificated Securities

88
Form and Denomination of Debt Securities

18
Street Name Owners

89
Different Series of Debt Securities

19
Legal Holders

89
Fixed-Rate Notes

20
Special Considerations for Indirect Owners

89
Floating-Rate Notes

20
Depositories for Global Securities

90
Indexed Notes

28
Special Considerations for Global Securities

94
Floating-Rate/Fixed-Rate/Indexed Notes

29
Registration, Transfer, and Payment of Certificated Securities

95
Original Issue Discount Notes

29
U.S. Federal Income Tax Considerations

96
Payment of Principal, Interest, and Other Amounts Due

30
Taxation of Debt Securities

97
No Sinking Fund

32
Taxation of Common Stock, Preferred Stock, and Depositary Shares
112
Redemption

32
Taxation of Warrants

118
Repayment

33
Taxation of Purchase Contracts

118
Repurchase

33
Taxation of Units

118
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
Conversion

33
Reportable Transactions

118
Exchange, Registration, and Transfer

34
Foreign Account Tax Compliance Act

119
Subordination

34
EU Directive on the Taxation of Savings Income

120
Sale or Issuance of Capital Stock of Banks

35
Plan of Distribution (Conflicts of Interest)

121
Limitation on Mergers and Sales of Assets

36
Distribution Through Underwriters

121
Waiver of Covenants

36
Distribution Through Dealers

122
Modification of the Indentures

36
Distribution Through Agents

122
Meetings and Action by Securityholders

37
Direct Sales

122
Events of Default and Rights of Acceleration

37
General Information

122
Collection of Indebtedness

37
Market-Making Transactions by Affiliates

123
Payment of Additional Amounts

38
Conflicts of Interest

123
Redemption for Tax Reasons

41
ERISA Considerations

125
Defeasance and Covenant Defeasance

42
Where You Can Find More Information

127
Notices

42
Forward-Looking Statements

128
Concerning the Trustees

43
Legal Matters

129
Governing Law

43
Experts

129
Description of Warrants

43
General

43
Description of Debt Warrants

43

S-2
Table of Contents
ABOUT THIS PROSPECTUS SUPPLEMENT
This prospectus supplement describes the specific terms of the Preferred Stock and the related depositary shares, and supplements the
description of our preferred stock and depositary shares included in the attached prospectus. In considering an investment in the depositary shares,
you should rely only on the information included or incorporated by reference in this prospectus supplement and the attached prospectus. We have
not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent information, you
should not rely on it. If information in this prospectus supplement is inconsistent with the attached prospectus, the information in this prospectus
supplement supersedes the information in the attached prospectus. The delivery of this prospectus supplement, at any time, does not imply that
there has been no change in our affairs since the date of this prospectus supplement or that the information in this prospectus supplement or the
attached prospectus is correct as of any time after that date.
This prospectus supplement and the attached prospectus do not constitute an offer to sell or the solicitation of an offer to buy the depositary
shares in any jurisdiction in which that offer or solicitation is unlawful. The distribution of this prospectus supplement and the attached prospectus
and the offering of the depositary shares in some jurisdictions may be restricted by law. If you have received this prospectus supplement and the
attached prospectus, you should find out about and observe these restrictions. See "Underwriting."
This prospectus supplement has been prepared on the basis that any offer of the depositary shares in any Member State of the European
Economic Area (each, a "Relevant Member State") which has implemented the Prospectus Directive (2003/71/EC) and amendments thereto (the
"Prospectus Directive") will be made pursuant to an exemption under the Prospectus Directive, as implemented in that Relevant Member State,
from the requirement to publish a prospectus for offers of the depositary shares. Accordingly, any person making or intending to make an offer in
that Relevant Member State of the depositary shares which are the subject of the offering contemplated in this prospectus supplement and the
attached prospectus may only do so in circumstances in which no obligation arises for us or any of the underwriters to publish a prospectus
pursuant to Article 3 of the Prospectus Directive or supplement a prospectus pursuant to Article 16 of the Prospectus Directive, in each case, in
relation to such offer. Neither we nor the underwriters have authorized, and neither we nor they authorize, the making of any offer of the depositary
shares in circumstances in which an obligation arises for us or the underwriters to publish or supplement a prospectus for such offer.
Unless otherwise indicated or the context requires otherwise, all references in this prospectus supplement to "Bank of America," "the
Corporation," "we," "us," and "our" are to Bank of America Corporation. Capitalized terms used, but not defined, in this prospectus supplement
are defined in the attached prospectus.
Persons outside the United States who come into possession of this prospectus supplement and the attached prospectus must inform
themselves about and observe any restrictions relating to the offering of the depositary shares and the distribution of this prospectus
supplement and the attached prospectus outside of the United States.

S-3
Table of Contents
SUMMARY
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
The following information about the depositary shares and the Preferred Stock summarizes, and should be read in conjunction with, the
information contained in this prospectus supplement and in the attached prospectus.
Securities Offered
We are offering 1,900,000 depositary shares representing interests in our Preferred Stock, with each share of Preferred Stock having a
liquidation preference of $25,000 per share (equivalent to $1,000 per depositary share). Each depositary share represents a 1/25th interest in a
share of the Preferred Stock. Each depositary share entitles the holder to a proportional fractional interest in the Preferred Stock represented by
that depositary share, including dividend, voting, redemption, and liquidation rights.
We may elect from time to time to issue additional depositary shares representing interests in the Preferred Stock, without notice to, or
consent from, the existing holders of Preferred Stock, and all those additional depositary shares would be deemed to form a single series with
the Preferred Stock, described by this prospectus supplement and the attached prospectus.
Dividends
We will pay cash dividends on the Preferred Stock only when, as, and if declared by our board of directors or a duly authorized
committee of our board, and to the extent that we have funds legally available for the payment of such dividends, from the date of issuance to,
but excluding, March 17, 2025, at a rate of 6.100% per annum (equivalent to $61.00 per depositary share per annum), payable semi-annually,
in arrears. Thereafter, we will pay cash dividends on the Preferred Stock when, as, and if declared by our board of directors or a duly
authorized board committee at a floating rate equal to three-month LIBOR plus a spread of 3.898% per annum, payable quarterly, in arrears
(each such rate, a "dividend rate").
Dividends on the Preferred Stock will not be cumulative. Accordingly, if for any reason our board of directors or a duly authorized
committee of our board does not declare a dividend on the Preferred Stock for a dividend period prior to the related dividend payment date,
that dividend will not cumulate and will cease to accrue, and we will have no obligation to pay a dividend for that dividend period on the
applicable dividend payment date or at any time in the future, whether or not our board of directors or a duly authorized committee of our
board declares a dividend on the Preferred Stock or any other series of our preferred stock or common stock for any future dividend period. A
"dividend period" is the period from, and including, a dividend payment date (as defined below) to, but excluding, the next dividend payment
date, except that the initial dividend period will begin on and include the original issue date of the depositary shares and the Preferred Stock.
So long as any share of Preferred Stock remains outstanding, (1) no dividend will be declared and paid or set aside for payment and no
distribution will be declared and made or set aside for payment on any junior stock (as defined below under "Description of the Preferred
Stock--Dividends") (other than a dividend payable solely in shares of junior stock), (2) no shares of junior stock will be repurchased,
redeemed, or otherwise acquired for consideration by us, directly or indirectly (other than as a result of a reclassification of junior stock for or
into other junior stock, or the exchange or conversion of one share of junior stock for or into another share of junior stock, and other than
through the use of the proceeds of a substantially contemporaneous sale of other shares of junior stock) nor will any monies be paid to or made

S-4
Table of Contents
available for a sinking fund for the redemption of any such securities by us, and (3) no shares of parity stock (as defined below under
"Description of the Preferred Stock--Dividends") will be repurchased, redeemed, or otherwise acquired for consideration by us otherwise than
pursuant to pro rata offers to purchase all, or a pro rata portion, of the Preferred Stock and such parity stock except by conversion into or
exchange for shares of junior stock, during a dividend period, unless, in each case, the full dividends for the immediately preceding dividend
period on all outstanding shares of the Preferred Stock have been declared and paid or declared and a sum sufficient for the payment of those
dividends has been set aside. The foregoing limitations do not apply to purchases or acquisitions of our junior stock pursuant to any employee
or director incentive or benefit plan or arrangement (including any of our employment, severance, or consulting agreements) of ours or of any
of our subsidiaries adopted before or after the date of this prospectus supplement.
Except as provided below, for so long as any share of Preferred Stock remains outstanding, we will not declare, pay, or set aside for
payment, dividends on any parity stock unless we have paid in full, or set aside payment in full, all dividends for the immediately preceding
dividend period for outstanding shares of Preferred Stock. To the extent that we declare dividends on the Preferred Stock and on any parity
stock but cannot make full payment of those declared dividends, we will allocate the dividend payments on a pro rata basis among the holders
of shares of Preferred Stock and the holders of any parity stock. For purposes of calculating the pro rata allocation of partial dividend
payments, we will allocate dividend payments based on the ratio between the dividend payments due on shares of Preferred Stock and the
aggregate of the current and accrued dividends due on any parity stock.
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
Subject to the conditions described above, and not otherwise, dividends (payable in cash, stock, or otherwise), as may be determined by
the board of directors or a duly authorized committee of our board, may be declared and paid on our common stock and any other securities
junior to the Preferred Stock from time to time out of any funds legally available for such payment, and the holders of the Preferred Stock
shall not be entitled to participate in those dividends.
See "Description of the Preferred Stock--Dividends" beginning on page S-12 for more information about the payment of dividends.
Dividend Payment Dates
Cash dividends on the Preferred Stock will be payable when, as, and if declared by our board of directors or a duly authorized committee
of our board, and to the extent that we have funds legally available for the payment of such dividends, semi-annually on March 17 and
September 17 of each year, beginning on September 17, 2015 to March 17, 2025, and, thereafter, quarterly, in arrears, on March 17, June 17,
September 17, and December 17 of each year, beginning on June 17, 2025 (each a "dividend payment date"). If any date on which dividends
otherwise would be payable is not a Business Day (as defined below under "Description of the Preferred Stock--Dividends"), then the
dividend payment date will be the next succeeding day that is a Business Day, unless for the Fixed Rate Period (as defined below under
"Description of the Preferred Stock--Dividends"), that day falls in the next calendar year, or, for the Floating Rate Period (as defined below
under "Description of the Preferred Stock--Dividends"), that day falls in the next calendar month, then in each case the dividend payment
date will be the immediately preceding Business Day.
Optional Redemption
The Preferred Stock is perpetual and has no maturity date. We may redeem the Preferred Stock, in whole or in part, at any time on or
after March 17, 2025, at a redemption price equal

S-5
Table of Contents
to $25,000 per share (equivalent to $1,000 per depositary share), plus any accrued and unpaid dividends for the then-current dividend period
to but excluding the redemption date, without accumulation of any undeclared dividends. In addition, at any time within 90 days after a
"capital treatment event," as defined herein, we may provide notice to holders of the Preferred Stock that we will redeem the Preferred Stock
and subsequently redeem, out of funds legally available therefor, the Preferred Stock, in whole but not in part, at a redemption price equal to
$25,000 per share (equivalent to $1,000 per depositary share), plus any accrued and unpaid dividends for the then-current dividend period to
but excluding the redemption date, without accumulation of any undeclared dividends. Redemption of the Preferred Stock is subject to our
receipt of any required prior approval of the Board of Governors of the Federal Reserve System, or the "Federal Reserve Board," or other
appropriate federal banking agency. Our redemption of the Preferred Stock will cause the redemption of the corresponding depositary shares.
Neither the holders of the Preferred Stock nor the holders of the related depositary shares will have the right to require redemption.
Liquidation Rights
In the event of our voluntary or involuntary liquidation, dissolution, or winding up, the holders of the Preferred Stock are entitled to
receive out of our assets available for distribution to stockholders, before any distribution of assets is made to holders of our common stock or
any of our other stock ranking junior to the Preferred Stock as to such distribution, a liquidating distribution of $25,000 per share (equivalent
to $1,000 per depositary share), plus any declared and unpaid dividends, without accumulation of undeclared dividends. Distributions will be
made only to the extent of our assets remaining available after satisfaction of all liabilities to creditors and subject to the rights of holders of
any securities ranking senior to the Preferred Stock and pro rata as to the Preferred Stock and any other shares of our stock ranking equally as
to such distribution.
Voting Rights
The holders of depositary shares of the Preferred Stock do not have voting rights, except as specifically required by Delaware law and
except as provided below under "Description of the Preferred Stock--Voting Rights" and "Description of the Depositary Shares--Voting the
Preferred Stock" in this prospectus supplement.
Ranking
The Preferred Stock will rank, as to payment of dividends and distribution of assets upon our liquidation, dissolution, or winding up,
equally with our 7% Cumulative Redeemable Preferred Stock, Series B (the "Series B Preferred Stock"), 6.204% Non-Cumulative Preferred
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
Stock, Series D (the "Series D Preferred Stock"), Floating Rate Non-Cumulative Preferred Stock, Series E (the "Series E Preferred Stock"),
Floating Rate Non-Cumulative Preferred Stock, Series F (the "Series F Preferred Stock"), Adjustable Rate Non-Cumulative Preferred Stock,
Series G (the "Series G Preferred Stock"), 6.625% Non-Cumulative Preferred Stock, Series I (the "Series I Preferred Stock"), Fixed-to-
Floating Rate Non-Cumulative Preferred Stock, Series K (the "Series K Preferred Stock"), 7.25% Non-Cumulative Perpetual Convertible
Preferred Stock, Series L (the "Series L Preferred Stock"), Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M (the "Series M
Preferred Stock"), 6% Non-Cumulative Perpetual Preferred Stock, Series T (the "Series T Preferred Stock"), Fixed-to-Floating Rate Non-
Cumulative Preferred Stock, Series U (the "Series U Preferred Stock"), Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series V
(the "Series V Preferred Stock"), 6.625% Non-Cumulative Preferred Stock, Series W (the "Series W Preferred Stock"), Fixed-to-Floating
Rate Non-Cumulative Preferred Stock, Series X (the "Series X Preferred Stock"), the 6.500% Non-Cumulative Preferred Stock, Series Y (the

S-6
Table of Contents
"Series Y Preferred Stock"), the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Z (the "Series Z Preferred Stock"), Floating
Rate Non-Cumulative Preferred Stock, Series 1 (the "Series 1 Preferred Stock"), Floating Rate Non-Cumulative Preferred Stock, Series 2 (the
"Series 2 Preferred Stock"), 6.375% Non-Cumulative Preferred Stock, Series 3 (the "Series 3 Preferred Stock"), Floating Rate Non-
Cumulative Preferred Stock, Series 4 (the "Series 4 Preferred Stock"), and Floating Rate Non-Cumulative Preferred Stock, Series 5 (the
"Series 5 Preferred Stock"), and senior to our common stock.
Preemptive and Conversion Rights
The holders of the depositary shares do not have any preemptive or conversion rights.
Depository, Transfer Agent, and Registrar
Computershare Trust Company, N.A. will serve as depository, transfer agent, and registrar for the Preferred Stock and transfer agent and
registrar for the depositary shares.
Calculation Agent
The Bank of New York Mellon Trust Company, N.A. will be the calculation agent for the Preferred Stock during the Floating Rate
Period (as defined below).
Conflicts of Interest
Merrill Lynch, Pierce, Fenner & Smith Incorporated, the sole book-runner for this offering, is our affiliate. As such, Merrill Lynch,
Pierce Fenner & Smith Incorporated has a "conflict of interest" in this offering within the meaning of Financial Industry Regulatory Authority
("FINRA") Rule 5121. Consequently, this offering is being conducted in compliance with the provisions of FINRA Rule 5121. FINRA Rule
5121 requires that a "qualified independent underwriter" participate in the preparation of this prospectus supplement and exercise the usual
standards of due diligence with respect thereto. Goldman, Sachs & Co. has agreed to act as the qualified independent underwriter for this
offering. Merrill Lynch, Pierce, Fenner & Smith Incorporated is not permitted to sell depositary shares in this offering to an account over
which it exercises discretionary authority without the prior specific written approval of the account holder. For more information, see
"Underwriting (Conflicts of Interest)."

S-7
Table of Contents
RISK FACTORS
Your investment in the depositary shares involves risks. This prospectus supplement does not describe all of those risks.
In consultation with your own financial and legal advisors, you should consider carefully the following risks before deciding whether an
investment in the depositary shares is suitable for you. The depositary shares are not an appropriate investment for you if you are not
knowledgeable about significant features of the depositary shares, the Preferred Stock, or financial matters in general. You should not purchase
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
depositary shares unless you understand and know that you can bear these investment risks.
You should review carefully the information in this prospectus supplement and the attached prospectus about the Preferred Stock, depositary
shares, and other securities. For more information regarding risks that may materially affect our business and results, please refer to the
information under the caption "Item 1A. Risk Factors," in our Annual Report on Form 10-K for the year ended December 31, 2014, which is
incorporated by reference herein.
You are making an investment decision about the depositary shares as well as our Preferred Stock.
As described in this prospectus supplement, we are issuing fractional interests in shares of our Preferred Stock. Those fractional interests take
the form of depositary shares. The depository will rely solely on the dividend payments on the Preferred Stock it receives from us to fund all
dividend payments on the depositary shares. You should review carefully the information in this prospectus supplement and the attached prospectus
regarding our depositary shares and Preferred Stock.
The Preferred Stock does not restrict our ability to incur indebtedness.
The Preferred Stock places no restrictions on our business or operations or on our ability to
incur indebtedness or engage in any transactions, subject only to the limited voting rights referred to below under "Risk Factors--Holders of the
Preferred Stock will have limited voting rights."
Our ability to pay dividends depends upon the results of operations of our subsidiaries.
We are a holding company and conduct substantially all of our operations through subsidiaries. Our ability to declare and pay cash dividends
is primarily dependent on the receipt of dividends and other distributions from our subsidiaries. Various legal limitations restrict the extent to
which our subsidiaries may pay dividends or other funds or otherwise engage in transactions with us or some of our other subsidiaries. Also, our
right to participate in any distribution of assets of any of our subsidiaries upon such subsidiary's liquidation or otherwise, and thus your ability as a
holder of the depositary shares to benefit indirectly from such distribution, will be subject to the prior claims of creditors of that subsidiary, except
to the extent that any of our claims as a creditor of such subsidiary may be recognized. As a result, the depositary shares effectively will be
subordinated to all existing and future liabilities and obligations of our subsidiaries.
The Preferred Stock may be junior in rights and preferences to our future preferred stock.
The Preferred Stock may be junior to preferred stock we issue in the future, which by its terms is expressly senior to the Preferred Stock. The
terms of any of our future preferred stock expressly

S-8
Table of Contents
senior to the Preferred Stock may restrict dividend payments on the Preferred Stock. Unless full dividends for all of our outstanding preferred stock
senior to the Preferred Stock have been declared and paid or set aside for payment, no dividends will be declared or paid and no distribution will
be made on any shares of the Preferred Stock, and no shares of the Preferred Stock may be repurchased, redeemed, or otherwise acquired by us,
directly or indirectly, for consideration. This could result in dividends on the Preferred Stock not being paid when due to you.
Cash dividends on the Preferred Stock are discretionary and non-cumulative.
Cash dividends on the Preferred Stock are discretionary and non-cumulative. Consequently, if our board of directors or a duly authorized
committee of our board does not authorize and declare a dividend for any dividend period prior to the related dividend payment date, holders of the
Preferred Stock would not be entitled to receive a dividend for that dividend period, and the unpaid dividend will cease to accrue and be payable.
We will have no obligation to pay dividends accrued for a dividend period after the dividend payment date for that period if our board of directors
or a duly authorized committee of the board has not declared a dividend before the related dividend payment date, whether or not dividends on the
Preferred Stock or any other series of our preferred stock or our common stock are declared for any future dividend period. In addition, under the
Federal Reserve Board's risk-based capital rules related to additional Tier 1 capital instruments, dividends on the Preferred Stock may only be paid
out of our net income and retained earnings.
We may be able to redeem the Preferred Stock prior to March 17, 2025.
By its terms, the Preferred Stock may be redeemed by us prior to March 17, 2025 upon the occurrence of certain events involving the capital
treatment of the Preferred Stock. In particular, upon our good faith determination that an event has occurred that would constitute a "capital
treatment event," we may, at our option, redeem in whole, but not in part, the shares of Preferred Stock, subject to any required prior approval of
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
the Federal Reserve Board or other appropriate federal banking agency. See "Description of the Preferred Stock--Optional Redemption."
Although the terms of the Preferred Stock have been established to satisfy the criteria for "additional Tier 1 capital" instruments consistent
with Basel 3 as set forth in the joint final rulemaking issued in July 2013 by the Federal Reserve Board, the Federal Deposit Insurance Corporation
and the Office of the Comptroller of the Currency, it is possible that the Preferred Stock may not satisfy the criteria set forth in future rulemaking
or interpretations. As a result, a "capital treatment event" could occur whereby we would have the right, subject to any required prior approval of
the Federal Reserve Board or other appropriate federal banking agency, to redeem the Preferred Stock in accordance with its terms prior to March
17, 2025 at a redemption price equal to $25,000 per share (equivalent to $1,000 per depositary share), plus any accrued and unpaid cash dividends
for the then-current dividend period to but excluding the redemption date, without accumulation of any undeclared cash dividends.
Investors should not expect us to redeem the Preferred Stock on the date it becomes redeemable or on any particular date after it becomes
redeemable.
The Preferred Stock is a perpetual equity security. This means that it has no maturity or mandatory redemption date and is not redeemable at
the option of investors, including the holders of the depositary shares offered by this prospectus supplement. The Preferred Stock may be redeemed
by us at our option, either in whole or in part, at any time on or after March 17, 2025 or, in whole prior to that date, under certain circumstances
after the occurrence of a capital

S-9
Table of Contents
treatment event. Any decision we may make at any time to redeem the Preferred Stock will depend upon, among other things, our evaluation of
our capital position, the composition of our shareholders' equity, and general market conditions at that time.
Our right to redeem the Preferred Stock is subject to limitations. Under the Federal Reserve Board's current risk-based capital rules
applicable to bank holding companies, any redemption of the Preferred Stock is subject to prior approval of the Federal Reserve Board. We cannot
assure you that the Federal Reserve Board will approve any redemption of the Preferred Stock. There also can be no assurance that, if we requested
to redeem the Preferred Stock without issuing securities that qualify as common equity Tier 1 capital or additional Tier 1 capital instruments, the
Federal Reserve Board will authorize the redemption. In such case, under such current guidelines, we must demonstrate that we will continue to
hold capital commensurate with our risk to the satisfaction of the Federal Reserve Board. We currently understand that the factors that the Federal
Reserve Board will consider in evaluating a requested redemption, or a request that we be permitted to redeem the Preferred Stock without
replacing it with common equity Tier 1 capital or additional Tier 1 capital instruments, may include an evaluation of the overall level and quality
of our then applicable capital components, considered in light of our then applicable risk exposures, earnings and growth strategy, and other
supervisory considerations, although the Federal Reserve Board may change these factors at any time. The factors may also include, among other
things, the capital plans and stress tests submitted by the bank holding company, the bank holding company's ability to meet and exceed minimum
regulatory capital ratios under stressed scenarios, its expected sources and uses of capital over the planning horizon (generally a period of two
years) under baseline and stressed scenarios, and any potential impact of changes to its business plan and activities on its capital adequacy and
liquidity, although the Federal Reserve Board may change these factors at any time.
If the Preferred Stock is redeemed, the corresponding redemption of the depositary shares would be a taxable event to you. In addition, you
might not be able to reinvest the money you receive upon redemption of the depositary shares in a similar security.
An active trading market for the Preferred Stock and the related depositary shares does not exist and may not develop.
The Preferred Stock and the related depositary shares are new issues of securities with no established trading market. We do not intend to list
the Preferred Stock or the depositary shares on any securities exchange. We cannot predict how the depositary shares will trade in the secondary
market or whether that market will be liquid or illiquid. The number of potential buyers of the depositary shares in any secondary market may be
limited. Although the underwriters may purchase and sell their depositary shares in the secondary market from time to time, the underwriters will
not be obligated to do so and may discontinue making a market for the depositary shares at any time without giving us notice. We cannot assure
you that a secondary market for the depositary shares will develop, or that if one develops, it will be maintained. If an active, liquid market does
not develop for the depositary shares, the market price and liquidity of the depositary shares may adversely be affected.
Holders of the Preferred Stock will have limited voting rights.
Holders of the Preferred Stock have no voting rights with respect to matters that generally require the approval of voting stockholders.
Holders of the Preferred Stock will have voting rights only as specifically required by Delaware law and as described below under "Description of
the Preferred Stock--Voting Rights." Holders of depositary shares must act through the depository to exercise any voting rights of the Preferred
Stock.

http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
S-10
Table of Contents
Holders of depositary shares may be unable to use the dividends received deduction and may not be eligible for the preferential tax rates
applicable to "qualified dividend income."
Distributions paid to corporate U.S. Holders of the depositary shares out of cash dividends on the Preferred Stock may be eligible for the
dividends received deduction, and distributions paid to non-corporate U.S. Holders of the depositary shares out of those dividends may be subject
to tax at the preferential tax rates applicable to "qualified dividend income," if we have current or accumulated earnings and profits, as determined
for U.S. federal income tax purposes. Although we presently have accumulated earnings and profits, we may not have sufficient current or
accumulated earnings and profits during future fiscal years for the distributions on the Preferred Stock to qualify as dividends for U.S. federal
income tax purposes. If the distributions fail to qualify as dividends, U.S. Holders would be unable to use the dividends received deduction and
may not be eligible for the preferential tax rates applicable to "qualified dividend income." If any distributions on the Preferred Stock with respect
to any fiscal year are not eligible for the dividends received deduction or preferential tax rates applicable to "qualified dividend income" because of
insufficient current or accumulated earnings and profits, the market value of the depositary shares may decline.

S-11
Table of Contents
DESCRIPTION OF THE PREFERRED STOCK
You should read the following description of the Preferred Stock along with the "Description of Preferred Stock" beginning on page 52 of
the attached prospectus. This description of the Preferred Stock is qualified by the Certificate of Designations relating to the Preferred Stock
("Certificate of Designations"), which will be filed in a Current Report on Form 8-K, and where this description is inconsistent with the
description of the Preferred Stock in the Certificate of Designations, the Certificate of Designations will control.
General
Shares of the Preferred Stock represent a single series of our authorized preferred stock. We are offering 1,900,000 depositary shares,
representing 76,000 shares of the Preferred Stock, by this prospectus supplement and the attached prospectus. Holders of the Preferred Stock have
no preemptive rights. Shares of the Preferred Stock, upon issuance against full payment of the purchase price for the depositary shares, will be fully
paid and nonassessable. The depository will be the sole holder of shares of the Preferred Stock. The holders of depositary shares will be required to
exercise their proportional rights in the Preferred Stock through the depository, as described in "Description of the Depositary Shares" on page S-
21.
On the date of original issuance, the Preferred Stock will rank equally with our Series B Preferred Stock, Series D Preferred Stock, Series E
Preferred Stock, Series F Preferred Stock, Series G Preferred Stock, Series I Preferred Stock, Series K Preferred Stock, Series L Preferred Stock,
Series M Preferred Stock, Series T Preferred Stock, Series U Preferred Stock, Series V Preferred Stock, Series W Preferred Stock, Series X
Preferred Stock, Series Y Preferred Stock, Series Z Preferred Stock, Series 1 Preferred Stock, Series 2 Preferred Stock, Series 3 Preferred Stock,
Series 4 Preferred Stock, and Series 5 Preferred Stock, as to payment of dividends and distribution of assets upon our liquidation, dissolution or
winding up. The Preferred Stock, together with any other series of our preferred stock, will rank senior to our common stock, and any of our other
stock that is expressly made junior to our preferred stock, as to payment of dividends and distribution of assets upon our liquidation, dissolution, or
winding up. We may from time to time, without notice to or consent from the holders of the Preferred Stock, create and issue additional shares of
preferred stock ranking equally with the Preferred Stock as to dividends and distribution of assets upon our liquidation, dissolution, or winding up.
The Preferred Stock will not be convertible into, or exchangeable for, shares of any other class or series of our stock or other securities and
will not be subject to any sinking fund or our other obligation to redeem or repurchase the Preferred Stock. The Preferred Stock is not secured, is
not guaranteed by us or any of our affiliates and is not subject to any other arrangement that legally or economically enhances the ranking of the
Preferred Stock.
Dividends
Dividends on shares of the Preferred Stock will not be mandatory. Holders of the Preferred Stock will be entitled to receive, only when, as,
and if declared by our board of directors or a duly authorized committee of our board, out of funds legally available under Delaware law for
payment, non-cumulative cash dividends based on the liquidation preference of $25,000 per share of Preferred Stock, and no more, at a rate equal
to (1) 6.100% per annum (equivalent to $61.00 per depositary share per annum), for each semi-annual dividend period from the issue date of the
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

424(b)(5)
Preferred Stock to, but excluding, March 17, 2025 (the "Fixed Rate Period"), and (2) thereafter, three-month LIBOR plus a spread of 3.898% per
annum, for each quarterly dividend period beginning March 17, 2025 (the "Floating Rate Period").

S-12
Table of Contents
When, as, and if declared by our board of directors or a duly authorized committee of our board, during the Fixed Rate Period, we will pay
cash dividends on the Preferred Stock semi-annually, in arrears, on March 17 and September 17 of each year, beginning on September 17, 2015.
When, as and if declared by our board of directors or a duly authorized committee of our board, during the Floating Rate Period, we will pay cash
dividends on the Preferred Stock quarterly, in arrears, on March 17, June 17, September 17, and December 17 of each year, beginning on June 17,
2025. We will pay cash dividends to the holders of record of shares of the Preferred Stock as they appear on our stock register on each record date,
which shall be the first day of the calendar month in which such dividend payment date falls or such other record date fixed by our board of
directors (or a duly authorized committee of the board) that is not more than 60 nor less than 10 days prior to such dividend payment date. If any
date on which dividends otherwise would be payable is not a Business Day, then the dividend payment date will be the next succeeding day that is
a Business Day, unless, for the Fixed Rate Period, that day falls in the next calendar year, or, for the Floating Rate Period, that day falls in the next
calendar month, then in each case the dividend payment date will be the immediately preceding Business Day. A "Business Day" for the Fixed
Rate Period means any weekday in New York, New York or Charlotte, North Carolina that is not a day on which banking institutions in those cities
are authorized or required by law, regulation, or executive order to be closed. A "Business Day" for the Floating Rate Period means any weekday
in New York, New York or Charlotte, North Carolina that is not a day on which banking institutions in those cities are authorized or required by
law, regulation, or executive order to be closed, and additionally, is a London banking day (as defined below).
Dividends on the Preferred Stock will not be cumulative. If our board of directors or a duly authorized committee of our board does not
declare a dividend on the Preferred Stock for any dividend period prior to the related dividend payment date, that dividend will not cumulate and
will cease to accrue, and we will have no obligation to pay a dividend for that dividend period on the related dividend payment date or at any
future time, whether or not dividends on the Preferred Stock or any other series of our preferred stock or common stock are declared for any future
dividend period. A "dividend period" means the period from, and including, each dividend payment date to, but excluding, the next succeeding
dividend payment date, except for the initial dividend period, which will be the period from, and including, March 17, 2015 to, but excluding, the
next succeeding dividend payment date.
Dividends on the Preferred Stock will accrue from the original issue date at the then-applicable dividend rate on the liquidation preference
amount of $25,000 per share (equivalent to $1,000 per depositary share). If we issue additional shares of the Preferred Stock, dividends on those
additional shares will accrue from the original issue date of those additional shares at the then-applicable dividend rate.
We will calculate dividends on the Preferred Stock for the Fixed Rate Period on the basis of a 360-day year of twelve 30-day months. We
will calculate dividends on the Preferred Stock for the Floating Rate Period on the basis of the actual number of days in a dividend period and a
360-day year. Dollar amounts resulting from that calculation will be rounded to the nearest cent, with one-half cent being rounded upward.
Dividends on the Preferred Stock will cease to accrue after the redemption date, as described below under "--Optional Redemption," unless we
default in the payment of the redemption price of the shares of the Preferred Stock called for redemption.
The dividend rate for each dividend period in the Floating Rate Period will be determined by the calculation agent using three-month LIBOR
as in effect on the second London banking day prior to the beginning of the dividend period, which date is the "dividend determination date" for
the dividend period. The calculation agent then will add three-month LIBOR as determined on the dividend determination date and the applicable
spread. Once the dividend rate for the

S-13
Table of Contents
Preferred Stock is determined, the calculation agent will deliver that information to us and the transfer agent. Absent manifest error, the calculation
agent's determination of the dividend rate for a dividend period for the Preferred Stock will be final. A "London banking day" is any day on which
commercial banks are open for general business (including dealings in deposits in U.S. dollars) in London, England.
The term "three-month LIBOR" means the London interbank offered rate for deposits in U.S. dollars for a three month period, as that rate
appears on Reuters screen page "LIBOR01" at approximately 11:00 a.m., London time, on the relevant dividend determination date.
If no offered rate appears on Reuters screen page "LIBOR01" on the relevant dividend determination date at approximately 11:00 a.m.,
London time, then the calculation agent, in consultation with us, will select four major banks in the London interbank market and will request each
of their principal London offices to provide a quotation of the rate at which three-month deposits in U.S. dollars in amounts of at least $1,000,000
http://www.sec.gov/Archives/edgar/data/70858/000119312515093648/d884696d424b5.htm[3/18/2015 10:40:48 AM]

Document Outline

#1">
- #1">