RULE 424 (B) (2)
REGISTRATION STATEMENT NO. 333-45814
| PRICING SUPPLEMENT NO. | 0015 | DATED | April 27, 2005. |
To prospectus dated September 28, 2000 and prospectus supplement dated October 3, 2000.
MBNA CORPORATION
MEDIUM-TERM NOTES, SERIES F
CUSIP #: 55263ECM5
ISSUE PRICE: 100.00%
UNDERWRITING DISCOUNT: .300%
| REPAYMENT INFORMATION: | XX | SENIOR NOTES | | SUBORDINATED NOTES |
| FORM: | XX | BOOK ENTRY | | CERTIFICATE |
ORIGINAL ISSUE DATE: 5/4/2005
(Settlement Date)
STATED MATURITY: 5/5/2008
DEFEASANCE AND COVENANT DEFEASANCE: YES
REPURCHASE PRICE: N/A
(For Discount Securities)
| SPECIFIED CURRENCY: | XX | U.S. DOLLARS | | OTHER |
MINIMUM DENOMINATIONS: $1,000 and integral multiples of $1,000 in excess thereof
INITIAL INTEREST RATE PER ANNUM: 3.64%
INITIAL INTEREST RATE DETERMINATION DATE: 4/29/2005
INTEREST RATE RESET PERIOD: QUARTERLY
INTEREST RATE BASIS:
| CD RATE | | COMMERCIAL PAPER | | TREASURY RATE | |
| | | | | | |
LIBOR, TELERATE PAGE 3750 | XX | FEDERAL FUNDS EFFECTIVE RATE | | PRIME RATE | |
| | | | | |
| OTHER: | | | | | |
| | | | | | |
INTEREST PAYMENT DATES:
8/05/05, 11/07/05, 2/06/06, 5/05/06, 8/07/06, 11/06/06, 2/5/07, 5/07/07, 8/06/07, 11/05/07, 2/5/08, 5/5/08
INTEREST RATE DETERMINATION DATES:
4/29/2005, 8/03/05, 11/03/05, 2/02/06, 5/03/06, 8/03/06, 11/02/06, 2/01/07, 5/03/07, 8/02/07, 11/01/07, 2/01/08
CALCULATION AGENT: DEUTSCHE BANK TRUST COMPANY AMERICAS
REGULAR RECORD DATES: 15th CALENDAR DAY PRECEDING THE INTEREST PAYMENT DATE
| MAXIMUM INTEREST RATE: N/A% | OTHER PROVISIONS: N/A |
| MINIMUM INTEREST RATE: N/A% | |
| SPREAD MULTIPLIER: N/A% | |
| SPREAD (+): 43 BPS | |
REDEMPTION INFORMATION: N/A
The aggregate Principal Amount of this offering is US $500,000,000.00.
FURTHER ISSUES: MBNA Corporation may from time to time, without the consent of the existing holders of the Notes, create and issue further Notes having the same terms and conditions as the Notes being offered hereby in all respects, except for issue date, issue price and, if applicable, the first payment of interest thereon. Additional Notes issued in this manner will be consolidated with, and will form a single series with, the previously outstanding Notes.
| Type of Sale: | | As Agent | XX | As Principal |
| If principal transaction, reoffering at: | | |
| | | varying prices related to prevailing market prices at the time of resale |
| | XX | fixed public offering of | 100.00% | of Principal Amount |
Underwriting Syndicate:
Lead Managers - Deutsche Bank Securities Inc.
J.P. Morgan Securities Inc.
Co-Managers - - Banc of America Securities LLC
Barclays Capital Inc.
Citigroup Global Markets, Inc.
Credit Suisse First Boston LLC
Lehman Brothers Inc.
Merrill Lynch, Pierce, Fenner & Smith, Incorporated
