RBS calls £930 million of non-cumulative dollar preference shares

By Susanna Moon

Chicago, Aug. 7 – Royal Bank of Scotland Group plc gave notice that it plans to redeem about £930 million equivalent of non-cumulative dollar preference shares.

The issuer will redeem four series of non-cumulative preference shares and the corresponding series of American Depositary Shares as follows:

• $156,385,200 of series F preference shares on Sept. 4 at a redemption price of $25.00 per share and per ADS plus accrued dividends of $0.377778 per share;

• $242,191,350.00 of series H preference shares on Sept. 4 at a redemption price of $25.00 per share and per ADS plus accrued dividends of $0.322222 per share;

• $750,696,925 of series L preference shares on Sept. 4 at a redemption price of $25.00 per share and per ADS plus accrued dividends of $0.255556 per share; and

• $64,772,000 of series 1 preference shares on Dec. 3 at a redemption price of $1,000 per share and $1.00 per ADS plus accrued dividends of $15.956500 per preference share and $0.0159565 per ADS

The series F ADSs, the series H ADSs and the series L ADSs will stop trading on the New York Stock Exchange from the redemption dates. The issuer has applied to the U.K. Financial Conduct Authority to cancel the listings of the series 1 preference shares.

The Bank of New York Mellon (866 241-9317 or 201 680-6825) is the depositary.

The banking and financial services company is based in Edinburgh.

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