-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, PV1kO42+4qGlbSR3l4Nh2YfwbrXfyHxO5dyLnHcANfmZDDsNiBBZcTA3mVh2eaAQ r50kfMFFbsQUWcSp+4Gh7w== 0000908662-99-000161.txt : 19990726 0000908662-99-000161.hdr.sgml : 19990726 ACCESSION NUMBER: 0000908662-99-000161 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990723 FILER: COMPANY DATA: COMPANY CONFORMED NAME: FLEET FINANCIAL GROUP INC CENTRAL INDEX KEY: 0000050341 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 050341324 STATE OF INCORPORATION: RI FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: SEC FILE NUMBER: 333-62905 FILM NUMBER: 99669302 BUSINESS ADDRESS: STREET 1: ONE FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02211 BUSINESS PHONE: 6173464000 MAIL ADDRESS: STREET 1: ONE FEDERAL STREET CITY: BOSTON STATE: MA ZIP: 02211 FORMER COMPANY: FORMER CONFORMED NAME: FLEET FINANCIAL GROUP INC DATE OF NAME CHANGE: 19880110 FORMER COMPANY: FORMER CONFORMED NAME: INDUSTRIAL NATIONAL CORP DATE OF NAME CHANGE: 19820512 424B3 1 RULE 424(B)(3) Rule: 424(b)(3) File No: 333-62905 PRICING SUPPLEMENT NO. 7 DATED JULY 21, 1999 (To Prospectus Supplement dated September 25, 1998 and Prospectus dated September 24, 1998)
FLEET FINANCIAL GROUP, INC. SENIOR MEDIUM-TERM NOTES, SERIES N (The "Senior Notes") and SUBORDINATED MEDIUM-TERM NOTES, SERIES O (THE "Subordinated Notes") DUE 9 MONTHS OR MORE FROM DATE OF ISSUE FLOATING RATE NOTE Series N (Senior) [x] Series O (Subordinated) [ ] Principal Amount: $200,000,000.00 CUSIP Number: 33900Q AR 5 Price to Public: See Additional Original Issue Discount (OID) Note: [ ] Yes [x] No Terms below ---------------------------------- Total Amount of OID: Issue Date: July 26, 1999 Yield to Maturity: Initial Accrual Period OID: Maturity Date: July 26, 2002 Issue Price (as % Price to Issuer of principal): See Below (as % to principal: 100.000% Specified Currency (if other than US Dollars): Interest Rate Basis: [ ] CMT Rate [ ] Treasury Rate Designated CMT Telerate Page: [ ] Federal Funds Rate Designated CMT Maturity Index: [ ] Prime Rate [ ] Commercial Paper Rate [ ] Other: [x] LIBOR LIBOR SCREEN Telerate [x] Reuters [ ] Other [ ] Index Maturity: 3 Month Spread: plus 30 basis points Spread Multiplier: Maximum Interest Rate: Minimum Interest Rate: Initial Interest Rate: 5.58750% Method of Calculation: Actual / 360 [x] Actual/Actual [ ] 30/360 [ ] Interest Determination Date: [ ] One Business Day Prior to the Interest Reset Date (No Rate Cutoff) [ ] Two Business Days Prior to the Interest Reset Date [x] Two London Business Days Prior to the Interest Reset Date Initial Interest Reset Date: October 26, 1999 Interest Reset Dates: Quarterly on each Interest Payment Date Interest Payment Dates: the 26th of each January, April, July, and October or next good business day commencing October 26, 1999 Regular Record Dates (if other than the 15th day prior to each Interest Payment Date): Interest Reset Period: Quarterly Interest Payment Period: Quarterly Calculation Agent (if other than First National Bank of Chicago): Redemption: [x] The Notes cannot be redeemed prior to maturity [ ] The Notes can be redeemed prior to maturity Initial Redemption Date: Initial Redemption Percentage: Annual Redemption Percentage Reduction: Repayment: [x] The Notes cannot be repaid prior to maturity [ ] The Notes can be repaid prior to maturity, at the option of the holder of the Note Holder's Optional Repayment Date(s): Index Currency: Place of Payment: Authorized Denomination: (only if non-U.S. Dollar denominated) Agent: Chase Securities Inc. Agent's Capacity: [x] As Principal [ ] As Agent Delivery: DTC # 187
Additional Terms: The Notes may be sold at varying prices related to prevailing market conditions at the time or times of resale. Expenses: The aggregate expenses, other than the Agents' Discounts and Commissions specified in the Prospectus Supplement dated September 25, 1998 and the Prospectus dated September 24, 1998, payable by Fleet Financial Group, Inc. are estimated at up to $175,000, including reimbursement of the Agents' expenses, based on an aggregate initial offering price of $2,000,000,000 of its Senior and its Subordinated Notes. Recent Developments: On March 14, 1999, Fleet Financial Group, Inc. ("FFG") and BankBoston Corporation ("BankBoston") entered into an Agreement and Plan of Merger (the "Merger Agreement") providing for the merger of BankBoston with and into FFG (The "Merger"). Consummation of the Merger is subject to a number of conditions, including (1) the adoption of the Merger Agreement by the stockholders entitled to vote thereon of each of FFG and BankBoston, (2) receipt of all requisite governmental approvals (including the approval of the Board of Governors of the Federal Reserve System), and (3) certain other customary conditions. In addition, FFG and BankBoston cannot complete the Merger unless it is approved by the Board of Governors of the Federal Reserve System. The United States Department of Justice has input into this approval process. FFG and BankBoston have proposed to divest approximately $13 billion of deposits from the combined company. FFG believes that the proposed divestiture is consistent with the antitrust guidelines of the Federal Reserve Board and the Department of Justice, but there can be no assurance that one or both of these agencies may not seek greater levels of divestiture. FFG does not believe that these divestitures will have a significant negative effect on it. -----END PRIVACY-ENHANCED MESSAGE-----