RBS Capital discloses redemption price for three series of preferreds

By Marisa Wong

Morgantown, W.Va., May 17 – RBS Capital Funding Trust V, RBS Capital Funding Trust VI and RBS Capital Funding Trust VII will redeem their $3.29 billion of trust preferred securities at $25.00 per trust preferred plus accumulated and unpaid distributions, according to a 6-K filing with the Securities and Exchange Commission.

The issuers previously announced that they will redeem the following on June 13:

• $1,285,000,000 of 5.9% non-cumulative guaranteed trust preferred securities issued by Trust V on July 3, 2003;

• $200 million of 6.25% non-cumulative guaranteed trust preferred securities issued by Trust VI on Sept. 30, 2003; and

• $1.8 billion of 6.08% non-cumulative guaranteed trust preferred securities issued by Trust VII on Feb. 18, 2004.

RBS is a financial services company based in Edinburgh, Scotland.

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