RBS 2009 Annual Report Download - page 323

321RBS Group Annual Report and Accounts 2009
Financial statements
Notes on the accounts
Dated loan capital continued
2009 2008 2007
£m £m £m
Other minority interest subordinated issues 12 16 16
ABN AMRO and subsidiaries
113 million 7.50% subordinated notes 2008 ——83
182 million 6.00% fixed rate subordinated notes 2009 (redeemed April 2009) — 169 132
182 million 6.13% fixed rate subordinated notes 2009 (redeemed June 2009) — 165 127
1,150 million 4.63% fixed rate subordinated notes 2009 (redeemed May 2009) — 1,104 848
250 million 4.70% CMS linked subordinated notes 2019 189 195 131
800 million 6.25% fixed rate subordinated notes 2010 733 795 598
100 million 5.13% flip flop Bermudan callable subordinated notes 2017 (callable December 2012) 84 89 75
500 million floating rate Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) 426 455 350
1,000 million floating rate Bermudan callable subordinated lower tier 2 notes 2016 (callable September 2011) 862 923 710
13 million zero coupon subordinated notes 2029 (callable June 2010) 4 82
82 million floating rate subordinated notes 2017 68 72 55
103 million floating rate subordinated lower tier 2 notes 2020 83 89 68
170 million floating rate sinkable subordinated notes 2041 190 205 184
15 million CMS linked floating rate subordinated lower tier 2 notes 2020 10 10 11
1,500 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable June 2010) 1,326 1,419 1,087
5 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) 4 54
65 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) 58 62 48
US$12 million floating rate subordinated notes 2008 — —6
US$12 million floating rate subordinated notes 2008 — —6
US$165 million 6.14% subordinated notes 2019 132 152 94
US$72 million 5.98% subordinated notes 2019 34 49 7
US$500 million 4.65% subordinated notes 2018 293 359 214
US$500 million floating rate Bermudan callable subordinated notes 2013 — — 232
US$1,500 million floating rate Bermudan callable subordinated notes 2015 (callable March 2010) 887 982 717
US$100 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) 62 68 50
US$36 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) 22 25 18
US$1,000 million floating rate Bermudan callable subordinated lower tier 2 notes 2017 (callable January 2012) 598 661 479
AUD575 million 6.50% Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) 318 286 231
AUD175 million 7.46% Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) 93 79 73
26 million 7.42% subordinated notes 2016 27 28 20
7 million 7.38% subordinated notes 2016 786
256 million 5.25% fixed rate subordinated notes 2008 — — 190
13 million floating rate subordinated notes 2008 ——9
£42 million 8.18% subordinated notes 2010 715 19
£25 million 9.18% amortising MTN subordinated lower tier 2 notes 2011 8 915
£750 million 5% fixed rate Bermudan callable subordinated upper tier 2 notes 2016 727 728 642
US$250 million 7.75% fixed rate subordinated notes 2023 155 173 127
US$150 million 7.13% fixed rate subordinated notes 2093 93 104 76
US$250 million 7.00% fixed rate subordinated notes 2008 — — 127
US$68 million floating rate subordinated notes 2009 (6) ——34
US$12 million floating rate subordinated notes 2009 (6) ——6
BRL50 million floating rate subordinated notes 2013 (6) ——14
BRL250 million floating rate subordinated notes 2013 (6) ——71
BRL250 million floating rate subordinated notes 2014 (6) ——71
BRL885 million floating rate subordinated notes 2014 (6) —— 251
BRL300 million floating rate subordinated notes 2014 (6) ——85
PKR0.80 million floating rate subordinated notes 2012 — 76
MYR200 million zero coupon subordinated notes 2017 36 40 30
TRY60 million floating rate callable subordinated notes 2012 (redeemed September 2009) — 34 25
24,597 30,162 23,065
* In addition, the company has in issue 166 million (2008 and 2007 – 500 million) subordinated loan notes of 1,000 each, US$827 million (2008 and 2007 – US$1,950 million) subordinated loan
notes of US$1,000 each and £93 million (2008 and 2007 – £400 million) subordinated loan notes of £1,000 each. These loan notes are included in the company balance sheet as loan capital but are
reclassified as minority interest trust preferred securities on consolidation (see Note 26).
Notes:
(1) On-lent to The Royal Bank of Scotland plc on a subordinated basis.
(2) Unconditionally guaranteed by the company.
(3) In the event of certain changes in tax laws, dated loan capital issues may be redeemed in whole, but not in part, at the option of the issuer, at the principal amount thereof plus accrued interest,
subject to prior regulatory approval.
(4) Except as stated above, claims in respect of the Group’s dated loan capital are subordinated to the claims of other creditors. None of the Group’s dated loan capital is secured.
(5) Interest on all floating rate subordinated notes is calculated by reference to market rates.
(6) Transferred to Banco Santander.