RBS calls four series of trust preferreds, subordinated notes

By Marisa Wong

Madison, Wis., June 27 – Royal Bank of Scotland Group plc plans to redeem some of its trust preferred securities and subordinated notes on July 31, according to an 8-K filing with the Securities and Exchange Commission.

The following securities are affected:

• €1.25 billion 6.467% non-cumulative trust preferred securities issued by RBS Capital Trust A;

• $850 million of 4.709% non-cumulative trust preferred securities issued by RBS Capital Trust I;

• €1,250,001,000 fixed/floating-rate callable subordinated notes due 2042 issued by RBS; and

• $850,001,000 fixed/floating-rate callable subordinated notes due 2043 issued by RBS.

As a result of previous public tender offers for the trust preferreds, the bank already holds €859,071,000 of Trust A preferreds and $532.43 million of Trust I preferreds.

The financial services company is based in Edinburgh, Scotland.

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