Comerica 2008 Annual Report Download - page 96
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
Comerica Incorporated and Subsidiaries
Note 11 — Medium- and Long-Term Debt
Medium- and long-term debt are summarized as follows:
December 31
2008 2007
(in millions)
Parent company
Subordinated notes:
4.80% subordinated note due 2015 ................................... $ 342 $ 308
6.576% subordinated notes due 2037 .................................. 510 510
Total subordinated notes ............................................ 852 818
Medium-term note:
Floating rate based on LIBOR indices due 2010 .......................... 150 150
Total parent company .............................................. 1,002 968
Subsidiaries
Subordinated notes:
6.875% subordinated note due 2008 .................................. —100
6.00% subordinated note due 2008 ................................... —253
8.50% subordinated note due 2009 ................................... 101 102
7.125% subordinated note due 2013 .................................. 149 156
5.70% subordinated note due 2014 ................................... 286 261
5.75% subordinated notes due 2016 ................................... 701 667
5.20% subordinated notes due 2017 ................................... 592 513
8.375% subordinated note due 2024 .................................. 207 185
7.875% subordinated note due 2026 .................................. 246 198
Total subordinated notes ............................................ 2,282 2,435
Medium-term notes:
Floating rate based on LIBOR indices due 2008 to 2012 .................... 3,669 4,318
Floating rate based on PRIME indices due 2008 .......................... —1,000
Floating rate based on Federal Funds indices due 2009 ..................... 100 100
Federal Home Loan Bank advances:
Floating rate based on LIBOR indices due 2009 to 2014 .................... 8,000 —
Total subsidiaries .................................................. 14,051 7,853
Total medium- and long-term debt ..................................... $15,053 $8,821
The carrying value of medium- and long-term debt has been adjusted to reflect the gain or loss attributable
to the risk hedged. Concurrent with or subsequent to the issuance of certain of the medium- and long-term debt
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