EXHIBIT 99.1
Published on February 3, 1997
NationsBank News Release
FOR IMMEDIATE RELEASE
JAN. 22, 1997 -- NationsBank Corporation announced an agreement today for
the underwritten public offering of $500 million in capital securities.
The issue is part of a shelf registration for preferred securities declared
effective by the Securities and Exchange Commission.
The annual distribution rate of LIBOR plus 55 basis points will be paid
quarterly on Jan. 15, April 15, June 15 and Oct. 15 of each year. The
offering will be sold through joint lead managers NationsBanc Capital
Markets, Inc., Bear, Stearns & Co. Inc. and Lehman Brothers. Co-lead
managers include CS First Boston, J.P. Morgan Securities Inc., Prudential
Securities Inc., Salomon Brothers Inc and UBS Securities Inc. Closing is
scheduled for Feb. 3.
Proceeds from the transaction will be used for general corporate purposes.
Following its Jan. 7, 1997, merger with Boatmen's Bancshares Inc., NationsBank
has primary retail and commercial banking operations in 16 states and the
District of Columbia. On a pro forma combined basis, NationsBank had total
assets of approximately $227 billion at year-end 1996.
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Media contact: Martha Larsh 704 388-4379