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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 24,1997
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(Date of Report)
National City Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-10074 34-1111088
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
1900 East Ninth Street, Cleveland, Ohio 44114
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(Address of principal executive offices) (Zip Code)
216-575-2000
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(Registrant's telephone number, including area code)
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Item 5. Other Events
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On November 24, 1997, the Registrant issued a Press Release announcing
that its Board of Directors has authorized the purchase, in the open market or
otherwise, of up to 20 million additional shares of the Corporation's issued and
outstanding common stock subject to a total purchase limit of $1.4 billion.
Reference is made to the News Release, dated November 24, 1997, a copy
of which is filed as Exhibit 99.1 to this Current Report of Form 8-K and is
incorporated herein by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
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a) FINANCIAL STATEMENTS OF BUSINESS ACQUIRED: None.
b) PRO FORMA FINANCIAL INFORMATION: None.
c) EXHIBIT: Exhibit 99.1 Press Release dated November 24, 1997
incorporated herein by reference.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: November 24, 1997 By /s/ David L. Zoeller
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David L. Zoeller
Senior Vice President,
General Counsel and Secretary
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Exhibit 99.1
NATIONAL CITY CORPORATION
P.O. Box 5756
[NATIONAL CITY LOGO] Cleveland, OH 44101-0756
NEWS RELEASE
FOR MORE INFORMATION CONTACT
Thomas A. Richlovsky
Senior Vice President & Treasurer
(216) 575-2126
Julie I. Sabroff
Vice President, Investor Relations
(216) 575-2467
FOR IMMEDIATE RELEASE
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NATIONAL CITY ANNOUNCES 20 MILLION SHARE BUYBACK
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CLEVELAND, OHIO--November 24, 1997--The Board of Directors of
National City Corporation (NYSE:NCC) today authorized the repurchase of up to
20 million shares of National City's issued and outstanding common stock,
subject to a purchase limit of $1.4 billion. There are approximately 211
million common shares currently outstanding. The Corporation's previous
repurchase program, for ten million shares, was authorized in April 1997 and
completed in mid-November.
All shares repurchased will be held as Treasury shares for reissue in
connection with the Corporation's dividend reinvestment and stock option plans,
and for general corporate purposes. The shares will be acquired either in the
open market or in privately negotiated transactions in accordance with
applicable regulations of the Securities and Exchange Commission.
National City Corporation is a $53 billion diversified financial
services company headquartered in Cleveland, Ohio. National City operates banks
and other financial service subsidiaries principally in Ohio, Kentucky, Indiana
and Pennsylvania. National City can be found on the Internet at
www.national-city.com.
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