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RBS calls fixed/floating trust preferreds, subordinated notes due 2047
By Wendy Van Sickle
Columbus, Ohio, March 31 – Royal Bank of Scotland Group plc gave notice that it will redeem two series of securities in full on June 8.
The issuer will redeem
• The remaining outstanding £400 million of non-cumulative fixed/floating trust preferred securities issued Dec. 8, 2006 by RBS Capital Trust D at par plus accrued interest, plus any payable distributions without interest. The bank already holds £307,451,000 of these securities as a result of previous public tender offers; and
• Royal Bank of Scotland Group’s £400,001,000 of fixed/floating rate callable subordinated notes due 2047 at par plus accrued interest.
The banking and financial services company is based in Edinburgh.
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