CALL DECISION&POLICY ON CERTAIN RBS NV SECURITIES

RNS Number : 9966C

Royal Bank of Scotland Group PLC

23 April 2013

 



The Royal Bank of Scotland Group plc ("RBS")

CALL DECISION AND POLICY ON CERTAIN RBS N.V. SECURITIES

RBS announces that it will not exercise its option relating to The Royal Bank of Scotland N.V. ("RBS NV") A$175m FRN Bermudan callable subordinated notes (ISIN:A0000ABOHH0) and the RBS NV A$575m 6.5% Bermudan callable subordinated notes (ISIN: AU0000ABOHG2) both due in 2018 (the "Notes") to redeem such Notes at par on 17 May 2013. Going forward, all decisions to exercise calls on any RBS NV callable capital securities (including the Notes) will be made with reference to a variety of internal and external factors, including the prevailing regulatory, economic and market conditions at that time. Notwithstanding this, RBS continues to evaluate various alternatives with regards to such securities, including keeping the securities outstanding or offering holders of the securities an opportunity to exit through a liability management exercise ("LME"). Should an LME be undertaken, the prices offered are likely to be set taking account of today's market prices and prevailing regulatory, economic and market conditions at the time of any such transactions.

 

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