<HTML><HEAD><TITLE>November 9, 2004 Securitization 8-K</TITLE><!-- Licensed to: MBNA Corporation--><!-- Document Created using EDGARIZER HTML --><!-- Copyright 2004 EDGARfilings, Ltd., an IEC company.--><!-- All rights reserved EDGARfilings.com -->
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>UNITED STATES </STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SECURITIES AND EXCHANGE COMMISSION</STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Washington, D.C. 20549</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 16pt; FONT-FAMILY: Times New Roman, serif"><STRONG>FORM 8-K</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>CURRENT REPORT</STRONG></FONT></DIV>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Pursuant to Section 13 or 15(d) of the </STRONG></FONT></DIV>
<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Securities Exchange Act of 1934</STRONG></FONT></DIV>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>November 9, 2004</STRONG></FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Wilmington, Delaware</STRONG></FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>19884-0131</STRONG></FONT></DIV></TD></TR>
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(Former name or former address, if changed since last report)</FONT></DIV></TD></TR></TABLE>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></DIV></TD></TR>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></DIV></TD></TR>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Item 8.01 Other Events</STRONG></FONT></DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">On November 9, 2004, MBNA Europe Bank Limited, a wholly owned foreign bank subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed the securitization of &#163;250.0 million five-year credit card asset backed notes issued through Chester Asset Receivables Dealings Issuer Limited (CARDS<FONT face="Times New Roman">&#174;</FONT></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">). MBNA America Bank, N.A. is a wholly owned subsidiary of MBNA Corporation.</FONT></DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The transaction (Series 2004-A2) had one class of publicly traded asset backed notes, &#163;250.0 million Class A floating-rate asset backed notes due in 2009. The Series 2004-A2 notes were priced at par and will accrue interest at 11.5 basis points over the three-month Sterling London Interbank Offered Rate. Interest on the Series 2004-A2 notes will be paid quarterly.</FONT></DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">The securities are governed by English law and are expected to be listed on the London Stock Exchange.</FONT></DIV>
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<DIV align=justify><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">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.</FONT></DIV>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date: November 9, 2004</FONT></DIV></TD>
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<DIV align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">/s/</FONT></DIV></TD>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Kenneth A. Vecchione</FONT></DIV></TD></TR>
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<DIV align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Kenneth A. Vecchione</FONT></DIV></TD></TR>
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November 9, 2004 Securitization 8-K
UNITED STATES
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
Date of Report (Date of earliest event reported)
November 9, 2004
MBNA Corporation
(Exact name of registrant as specified in its charter)
Maryland
1-10683
52-1713008
(State or other jurisdiction of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)
Wilmington, Delaware
19884-0131
(Address of principal executive offices)
(Zip Code)
Registrant's telephone number, including area code
(800) 362-6255
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[  ]
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events
On November 9, 2004, MBNA Europe Bank Limited, a wholly owned foreign bank subsidiary of MBNA America Bank, N.A., located in the United Kingdom, completed the securitization of £250.0 million five-year credit card asset backed notes issued through Chester Asset Receivables Dealings Issuer Limited (CARDS
®
). MBNA America Bank, N.A. is a wholly owned subsidiary of MBNA Corporation.
The transaction (Series 2004-A2) had one class of publicly traded asset backed notes, £250.0 million Class A floating-rate asset backed notes due in 2009. The Series 2004-A2 notes were priced at par and will accrue interest at 11.5 basis points over the three-month Sterling London Interbank Offered Rate. Interest on the Series 2004-A2 notes will be paid quarterly.
The securities are governed by English law and are expected to be listed on the London Stock Exchange.
SIGNATURE
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.
MBNA Corporation
Date: November 9, 2004
By:
/s/
Kenneth A. Vecchione
Kenneth A. Vecchione
Chief Financial Officer