27th Oct 2005 09:09
Royal Bank of Scotland Group PLC27 October 2005 THE ROYAL BANK OF SCOTLAND GROUP AGREES PRICE FOR US$ 550 MILLION PREFERENCESHARE ISSUE 27th October 2005 The Royal Bank of Scotland Group plc ("the Group") is pleased to announce thepricing of 22,000,000 Category II Non-cumulative Dollar Preference Shares to bedesignated Series P ("the Series P Dollar Preference Shares"), which will beissued in the form of American Depositary Receipts ("the Series P ADRs") in theUnited States, at a subscription price of US$25.00 per share, with a coupon of6.25% per annum. Non-cumulative preferential dividends on the Series P Dollar Preference Shareswill be payable in US dollars quarterly in arrears on 31 March, 30 June, 30September and 31 December, at a rate of US$1.5625 annually per Series P DollarPreference Share. The first coupon is payable 31 December 2005. The Series PDollar Preference Shares can be redeemed in whole or in part at any time on orafter 31 December 2010 at US$25.00 per share, plus accrued dividends for thethen-current dividend period. The Group is being advised in connection with the issue by Citigroup GlobalMarkets Inc. and RBS Greenwich Capital, who are also acting with Merrill Lynch &Co, Morgan Stanley, UBS Securities LLC, and Wachovia Securities as managers. This announcement shall not constitute an offer to sell or the solicitation ofan offer to buy, nor shall there be any sale of the Series P Dollar PreferenceShares in any State of the US in which such offer, solicitation or sale would beunlawful prior to the registration or qualification under the securities laws ofany such State. Further, no Series P Dollar Preference Shares will be offered tothe public in the UK. For further information, please contact; The Royal Bank of Scotland Group plc Fred Watt Ron Huggett Group Finance Director Director Capital Management Executive House G 280 Bishopsgate RBS Gogarburn London PO Box 1000 EC2M 4RB Edinburgh Tel: 020 7085 4925 EH12 1HQ Tel: 0131 523 2028 Citigroup Alan Patterson Managing Director Citigroup Global Markets Limited Citigroup Centre 33 Canada Square Canary Wharf London E14 5LB Tel: 020 7986 8990 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RBS.L