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OMB APPROVAL
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OMB Number 3235-0104
Expires: December 31, 2001
Estimated average burden
hours per response ......0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Bank of America Corporation
100 North Tryon Street
Bank of America Plaza
Charlotte, NC 28255
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2. Date of Event Requiring Statement (Month/Day/Year)
March 6, 2002
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Comdial Corporation (CMDL)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[ ] Form Filed by One Reporting Person
[ X ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see instruction
5(b)(v).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
page 1 of 3
FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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Series B Alternate Rate
Cumulative Covertible
Redeemable Preferred
Stock immed. Common Stock 1,500,000 1.5 for 1(1) I By indirect
subsidiary
(see attached
sheet)
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Explanation of Responses:
(1) The conversion price of the derivative security changes upon payments by the
issuer to the reporting person to reduce the outstanding principal amount of an
existing term loan from the reporting person to the issuer. The adjustment to
the conversion price is as follows:
Term Loan Paydown Conversion Ratio Shares of Common Stock Issuable Upon Conversion
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$0 1.5:1 1,500,000
$1.0 million 1.4:1 1,400,000
$1.5 million 1.3:1 1,300,000
$2.0 million 1.2:1 1,200,000
$2.5 million 1.0:1 1,000,000
$3.0 million 0.5:1 500,000
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Amy S. Anderson March 18, 2002
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** Signature of Reporting Person Date
Assistant Vice President
Note: File three copies of this Form, one of which must be manually signed. If
space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
page 2 of 3
Information Regarding Joint Filers
Designated Filer of Form 3: Bank of America Corporation
Item 2. Date of Event Requiring Statement: March 6, 2002
Item 4. Issuer Name and Ticker Symbol: Comdial Corporation (CMDL)
Ownership Form Nature of Indirect
Designated Filer: Beneficial Ownership
Bank of America Corporation Indirect 100% Owner of Reported Shares, as 100%
100 North Tryon Street Indirect Parent of NB Holdings Corporation, which is 100%
Bank of America Plaza Parent of Bank of America, N.A.
Charlotte, NC 28255
Joint Filers:
NB Holdings Corporation
100 North Tryon Street Indirect Indirect 100% Owner of Reported Shares, as 100%
Bank of America Plaza Parent of Bank of America, N.A.
Charlotte, NC 28255
Bank of America, N.A.
101 South Tryon Street Direct
Bank of America Plaza
Charlotte, NC 28255
SIGNATURES
BANK OF AMERICA CORPORATION
By: /s/ Amy S. Anderson Date: March 18, 2002
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Title: Assistant Vice President
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NB HOLDINGS CORPORATION
By: /s/ Neil Cotty Date: March 18, 2002
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Title: Senior Vice President
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BANK OF AMERICA, N.A.
By: /s/ Amy S. Anderson Date: March 18, 2002
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Title: Assistant Vice President
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