Royal Bank of Scotland Group PLC RBSG successfully priced $3.15bn Additional Tier (2755V)
06 August 2015 - 4:01PM
UK Regulatory
TIDMRBS
RNS Number : 2755V
Royal Bank of Scotland Group PLC
06 August 2015
THE ROYAL BANK OF SCOTLAND GROUP PLC
The Royal Bank of Scotland Group plc successfully priced $3.15
billion Additional Tier 1 Capital Notes
06 August 2015
The Royal Bank of Scotland Group plc ("RBSG") completed the
pricing of its:
-- USD 2,000,000,000 7.500% Perpetual Subordinated Contingent
Convertible Additional Tier 1 Capital Notes callable 10 August
2020; and
-- USD 1,150,000,000 8.000% Perpetual Subordinated Contingent
Convertible Additional Tier 1 Capital Notes callable 10 August
2025
(together, the "Notes").
Ross McEwan, RBSG CEO said:
"This is another important step in the road towards becoming a
much stronger, safer bank for our customers and shareholders.
Improving our capital resilience has been an integral part of our
plan and we are well on track to achieve this."
RBSG's leverage ratio at 30 June 2015 on a pro forma basis,
assuming the divestment of Citizens and including the benefit of
this issuance, would have been 5.3%
The net proceeds of approximately USD 3,118,500,000 will be used
for general corporate purposes.
The offering is scheduled to close on 10 August 2015 subject to
the satisfaction of customary conditions. Application has been made
to The Irish Stock Exchange plc for the Notes to be admitted to the
Official List and to trading on the Global Exchange Market, which
is the exchange regulated market of The Irish Stock Exchange
plc.
For further information:
RBS Investor Relations
Matthew Richardson
Head of Debt Investor Relations
Tel: +44 (0) 20 7678 1800
Forward Looking Statements
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements that include the words
"intends", "expects", "anticipates", "targets", "plans",
"estimates" and words of similar import. These statements concern
or may affect future matters, such as RBSG's future economic
results, business plans and current strategies. Forward-looking
statements are subject to a number of risks and uncertainties that
might cause actual results and performance to differ materially
from any expected future results or performance expressed or
implied by the forward-looking statements. Factors that could cause
or contribute to differences in current expectations include, but
are not limited to, legislative, fiscal and regulatory
developments, competitive conditions, technological developments,
exchange rate fluctuations and general economic conditions. These
and other factors, risks and uncertainties that may impact any
forward-looking statement or RBSG's actual results are discussed in
RBSG's UK Annual Report and materials filed with, or furnished to,
the US Securities and Exchange Commission, including, but not
limited to, RBSG's Reports on Form 6-K and most recent Annual
Report on Form 20-F. The forward-looking statements contained in
this announcement speak only as of the date of this announcement
and RBSG does not assume or undertake any obligation or
responsibility to update any of the forward-looking statements
contained in this announcement, whether as a result of new
information, future events or otherwise, except to the extent
legally required.
The securities referred to in this press release are not
intended to be sold and should not be sold to retail clients in the
European Economic Area, as defined in the rules set out in the
Temporary Marketing Restriction (Contingent Convertible Securities)
Instrument 2014 or the Product Intervention (Contingent Convertible
Instruments and Mutual Society Shares) Instrument 2015 (together,
the "MR Rules"), as amended or replaced from time to time, other
than in circumstances that do not and will not give rise to a
contravention of those rules by any person.
Notice to U.S. persons: The issuer has filed a registration
statement (including a prospectus) with the SEC for the offering to
which this communication relates. Before you invest, you should
read the prospectus in the registration statement and other
documents the issuer has filed with the SEC for more complete
information about the issuer and this offering. You may get these
documents for free by visiting EDGAR on the SEC web site at
www.sec.gov. Alternatively, the issuer or any underwriter
participating in the offering will arrange to send you the
prospectus if you request it by calling RBS Securities Inc.
toll-free at 1-866-884-2071, calling Credit Suisse Securities (USA)
LLC toll-free at 1-800-221-1037, contacting Merrill Lynch, Pierce,
Fenner & Smith Incorporated at 222 Broadway, New York, NY
10038, Attn: Prospectus Department (email:
dg.prospectus_requests@baml.com) and calling Morgan Stanley &
Co. LLC toll-free at 1-866-718-1649.
Notice to U.K. persons: This communication has not been approved
by an authorized person for the purposes of section 21 of the
Financial Services and Markets Act 2000 (as amended) ("FSMA").
Accordingly, this communication is only for distribution to and
directed at: (i) in the United Kingdom, persons having professional
experience in matters relating to investments falling within
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order") and
high net worth entities falling within Article 49(2)(a) to (d) of
the Order; (ii) persons who are outside the United Kingdom; and
(iii) any other person to whom it can otherwise be lawfully
distributed (all such persons together being referred to as
"Relevant Persons"). Any investment or investment activity to which
this communication relates is available only to and will be engaged
in only with Relevant Persons. Persons who are not Relevant Persons
should not take any action based upon this communication and should
not rely on it.
Other Jurisdictions Outside the United States: No action may be
taken in any jurisdiction other than the United States that would
permit a public offering of the securities referred to in this
press release or the possession, circulation or distribution of
this document or the prospectus in any jurisdiction where action
for that purpose is required. Accordingly, such securities may not
be offered or sold, directly or indirectly, and neither this
document, the prospectus nor any other offering material or
advertisements in connection with such securities may be
distributed or published in or from any country or jurisdiction,
except under circumstances that will result in compliance with any
applicable rules and regulations of any such country or
jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGUGDILUGBGUL
Natwest (LSE:NWG)
Historical Stock Chart
From Apr 2024 to May 2024
Natwest (LSE:NWG)
Historical Stock Chart
From May 2023 to May 2024