15th Dec 2006 09:56
Royal Bank of Scotland Group PLC15 December 2006 THE ROYAL BANK OF SCOTLAND GROUP PLC AGREES PRICE FOR US$ 650 MILLION PREFERENCESHARE ISSUE 15th December 2006 The Royal Bank of Scotland Group plc ("the Group") is pleased to announce thepricing of 26,000,000 Category II Non-cumulative Dollar Preference Shares to bedesignated Series R ("the Series R Dollar Preference Shares"), which will beissued in the form of American Depositary Receipts ("the Series R ADRs") in theUnited States, at a subscription price of US$25.00 per share, with an annualrate of US$1.5313 per share. Non-cumulative preferential dividends on the Series R 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$1.5313 annually per Series R DollarPreference Share. The first coupon is payable 31 March 2007. The Series R DollarPreference Shares can be redeemed in whole or in part at any time on or after 30December 2011 at US$25.00 per share, plus accrued dividends for the then-currentdividend period. The Group is being advised in connection with the issue by Merrill Lynch & Co.and RBS Greenwich Capital, who are also acting with Citigroup, Morgan Stanley,UBS Investment Bank, Wachovia Securities, A.G. Edwards, Banc of AmericaSecurities LLC, Lehman Brothers and RBC Capital Markets. 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 R 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 R Dollar Preference Shares will be offered tothe public in the UK. For further information, or to obtain a copy of the related prospectus, pleasecontact; The Royal Bank of Scotland Group plc Guy Whittaker Ron HuggettGroup Finance Director Director, Capital ManagementExecutive House G 280 BishopsgateRBS Gogarburn LondonPO Box 1000 EC2M 4RBEdinburgh Tel: 020 7085 4925EH12 1HQTel: 0131 523 2028 Merrill Lynch InternationalSiddharth PrasadMerrill Lynch Financial Centre2 King Edward StreetLondonEC1A 1HQTel: 020 7996 5320Tel: 020 7986 8990 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RBS.L