RBS Holdings NV EC Restrictio

RNS Number : 8441R

Royal Bank of Scotland Group PLC

31 August 2010

 



31 August 2010

RBS HOLDINGS N.V. ANNOUNCES COMMENCEMENT DATE OF EC RESTRICTIONS

On 26 November 2009, The Royal Bank of Scotland Group plc ("RBSG") entered into a State Aid Commitment Deed with HM Treasury of the United Kingdom government ("HM Treasury") containing commitments and undertakings given by RBSG to HM Treasury that are designed to ensure that HM Treasury is able to comply with the commitments given by it to the European Commission for the purpose of obtaining approval for the State aid provided to RBSG.

As part of these commitments, RBSG agreed that RBS Holdings N.V. ("RBSH NV") will not pay investors any coupons on, or exercise any call rights in relation to, the hybrid capital instruments listed in the Schedule hereto (the "Affected Securities"), unless in any such case there is a legal obligation to do so, for an effective period of two years. RBSH NV and its group companies are also subject to restrictions on the exercise of call rights in relation to their other hybrid capital instruments.

RBSH NV announces that the start date for the two-year distribution restriction period in relation to the Affected Securities will be 1 April 2011.

For further information, please contact:

Emete Hassan

Head of Debt Investor Relations

The Royal Bank of Scotland Group plc

280 Bishopsgate

London EC2M 4RB

TEL:     + 44 20 7672 1758

FAX:     + 44 20 7672 1801

http://www.investors.rbs.com/investor_relations/index.cfm

Schedule

·           5.90% Non-cumulative Guaranteed Trust Preferred Securities of RBS Capital Funding Trust V (formerly ABN AMRO Capital Funding Trust V) (US74928K2087)

·           6.25% Non-cumulative Guaranteed Trust Preferred Securities of RBS Capital Funding Trust VI (formerly ABN AMRO Capital Funding Trust VI) (US74928M2044)

·           6.08% Non-cumulative Guaranteed Trust Preferred Securities of RBS Capital Funding Trust VII (formerly ABN AMRO Capital Funding Trust VII) (US74928P2074)

 

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