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FL » Topics » Prime Rate

This excerpt taken from the FL 8-K filed May 21, 2008.
Prime Rate” on any date means the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate”. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change

 

 

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in such rate announced by Bank of America shall take effect at the opening of business on the day specified in the public announcement of such change.

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"Prime Rate" elsewhere:

Target (TGT)
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