Capital One announces redemption of trust preferred capital securities

By Tali David

Minneapolis, Nov. 16 - Capital One Financial Corp. announced the redemption of certain trust preferred capital securities, according to a press release.

The following securities will be redeemed on Jan. 2:

• $650 million of 7.686% Capital One Capital III securities;

• $500 million of 6.745% Capital One Capital IV securities;

• $1 billion of 10.25% Capital One Capital V cumulative trust preferred securities;

• $1 billion of 8.875% Capital One Capital VI cumulative trust preferred securities;

• $10 million of Coastal Capital Trust II floating-rate preferred securities;

• $345 million of 7.5% Capital One Capital II enhanced trust preferred securities;

• $100 million of 8% North Fork Capital Trust II capital trust pass-through securities; and

• $45 million of 8.17% Reliance Capital Trust I capital securities.

The North Fork securities will be redeemed at 101.9035, and the Reliance Capital securities will be redeemed at 102.451. The rest will be redeemed at par.

Capital One is a McLean, Va.-based financial institution.

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