Bank of Boston Corp. redeems notes due 2000.BOSTON--(BUSINESS WIRE)--Aug. 1, 1995--Bank of Boston Corp. (NYSE NYSE See: New York Stock Exchange : BKB BKB Basler Kantonalbank (Switzerland) BKB Black King Bar (gaming weapon) BKB BV Kwaliteitsverklaringen Bouw (Dutch) BKB BankBoston Corporation ) announced today that it will redeem the $150 million principal amount outstanding of its 10.3 percent subordinated notes due Sept. 1, 2000 at a redemption price Redemption price See: Call price redemption price 1. The price at which an open-end investment company will buy back its shares from the owners. In most cases, the redemption price is the net asset value per share. 2. of 100 percent of their principal amount plus accrued interest Accrued Interest The interest that has accumulated on a bond since the last interest payment up to but not including the settlement date. There are two methods for calculating accrued interest: 1) 360-day year method, used for corporate and municipal bonds. . The corporation has established Sept. 1, 1995 as the redemption date Redemption date The date on which a bond matures or is redeemed. redemption date The date on which a debt security is scheduled to be redeemed by the issuer. The redemption date is the scheduled maturity date or, if applicable, a call date. . The notes may be surrendered for redemption to either of the corporation's paying agents, The First National Bank of Boston or Chemical Bank. The notes will accrue interest to but not including Sept. 1, 1995 and will cease to accrue interest thereafter. Bank of Boston Corp., with assets of $45.3 billion as of June 30, 1995, is one of the top 20 banks in the nation. As New England's only global bank, Bank of Boston offers comprehensive personal, corporate and global banking through a network of 500 offices across the United States and through more than 100 offices in 23 countries around the world, the third-largest overseas network of any U.S. bank. The corporation's common and preferred stocks are listed on the New York and Boston stock exchanges. CONTACT: Bank of Boston Edward J. Russell, 617/434-6883 (media) or John Kahwaty, 617/434-3650 (investor) |
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