27th Sep 2007 07:52
Royal Bank of Scotland Group PLC27 September 2007 THE ROYAL BANK OF SCOTLAND GROUP PLC PRICES US$ 1.5 BILLION PREFERENCE SHARE ISSUE 27th September 2007 The Royal Bank of Scotland Group plc ("the Group") has priced US$ 1.5 billionCategory II Non-cumulative US$ Preference Shares to be designated Series U ("US$Preference Shares"). The US$ Preference Shares will pay a fixed 7.64% dividend per annum payablesemi-annually in arrear on March 31 and September 30 until September 29, 2017.The US$ Preference Shares are redeemable at the option of the Group in whole butnot in part on September 29, 2017 and on any dividend payment date every tenyears thereafter at par. After September 29, 2017 the dividend rate will adjustto 3-month US$ Libor + 2.32%. The US$ Preference Shares have a liquidationpreference of US$ 100,000 each. The Group is being advised in connection with the issue by Merrill Lynch & Co.and RBS Greenwich Capital. 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,Executive House G Capital Management and SecuritisationRBS Gogarburn 280 BishopsgatePO Box 1000 LondonEdinburgh EC2M 4RBEH12 1HQ Tel: 020 7085 4925Tel: 0131 523 2028 RBS Merrill Lynch International David CarmaltSiddharth Prasad 135 BishopsgateMerrill Lynch Financial Centre London2 King Edward Street EC2M 3URLondon Tel: 020 7085 6754EC1A 1HQTel: 020 7996 5320 This announcement is not an invitation nor is it intended to be an inducement toengage in investment activity for the purpose of Section 21 of the FinancialServices and Markets Act 2000 of the United Kingdom (the "FSMA"). To the extentthat this announcement does constitute an inducement to engage in any investmentactivity included within this announcement, it is directed only at (i) personswho are outside the United Kingdom, (ii) persons who are investmentprofessionals within the meaning of Article 19(5) of the Financial Services andMarkets Act 2000 (Financial Promotion) Order 2005 (as amended) of the UnitedKingdom (the "Financial Promotion Order"); (iii) persons who fall withinArticles 49(2)(a) to (d) ("high net worth companies, unincorporated associationsetc.") of the Financial Promotion Order; and (iv) any other persons to whom thisannouncement for the purposes of Section 21 of FSMA can otherwise lawfully bemade (all such persons together being referred to as "relevant persons"), andmust not be acted on or relied upon by persons other than relevant persons. Anyinvitation or inducement to engage in any investment activity included withinthe announcement is available only to relevant persons and will be engaged inonly with relevant persons. Anyone other than a relevant person must not rely onthis announcement. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
RBS.L