RBS 2010 Annual Report Download - page 355

2010 2009 2008
£m £m £m
First Active plc
£60 million 6.375% subordinated bonds 2018 (callable April 2013) 66 66 66
RBS NV and subsidiaries
€182 million 6.00% fixed rate subordinated notes 2009 —— 169
€182 million 6.13% fixed rate subordinated notes 2009 —— 165
€1,150 million 4.63% fixed rate subordinated notes 2009 —— 1,104
€250 million 4.70% CMS linked subordinated notes 2019 181 189 195
€800 million 6.25% fixed rate subordinated notes 2010 (redeemed June 2010) —733 795
€100 million 5.13% flip flop Bermudan callable subordinated notes 2017 (callable December 2012) 69 84 89
€500 million floating rate Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) (6) —426 455
€1,000 million floating rate Bermudan callable subordinated lower tier 2 notes 2016
(callable September 2011) (6) —862 923
€13 million zero coupon subordinated notes 2029 948
€82 million floating rate subordinated notes 2017 (6) —68 72
€103 million floating rate subordinated lower tier 2 notes 2020 (6) —83 89
€170 million floating rate sinkable subordinated notes 2041 240 190 205
€15 million CMS linked floating rate subordinated lower tier 2 notes 2020 10 10 10
€1,500 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable March 2011) 1,283 1,326 1,419
€5 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2011) 445
€65 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) (6) —58 62
US$165 million 6.14% subordinated notes 2019 104 132 152
US$72 million 5.98% subordinated notes 2019 42 34 49
US$500 million 4.65% subordinated notes 2018 326 293 359
US$1,500 million floating rate Bermudan callable subordinated notes 2015 (callable March 2011) 927 887 982
US$100 million floating rate Bermudan callable subordinated lower tier 2 notes 2015
(callable October 2010) (6) —62 68
US$36 million floating rate Bermudan callable subordinated lower tier 2 notes 2015 (callable October 2010) (6) —22 25
US$1,000 million floating rate Bermudan callable subordinated lower tier 2 notes 2017
(callable January 2012) (6) —598 661
AUD575 million 6.50% Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) 371 318 286
AUD175 million floating rate Bermudan callable subordinated lower tier 2 notes 2018 (callable May 2013) 111 93 79
€26 million 7.42% subordinated notes 2016 26 27 28
€7 million 7.38% subordinated notes 2016 778
£42 million amortising MTN subordinated lower tier 2 notes 2010 (redeemed December 2010) —715
£25 million amortising MTN subordinated lower tier 2 notes 2011 (redeemed January 2011) 389
£750 million 5% fixed rate Bermudan callable subordinated upper tier 2 notes 2016 (6) —727 728
US$250 million 7.75% fixed rate subordinated notes 2023 163 155 173
US$150 million 7.13% fixed rate subordinated notes 2093 98 93 104
PKR800 million floating rate subordinated notes 2012 ——7
MYR200 million zero coupon subordinated notes 2017 42 36 40
TRY60 million floating rate callable subordinated notes 2012 ——34
Non-controlling interests subordinated issues 20 12 16
20,658 24,597 30,162
*In addition, the company has in issue €166 million (2009 - €166 million; 2008 - €500 million) subordinated loan notes of €1,000 each, US$633 million (2009 - US$827 million; 2008 - US$1,950 million)
subordinated loan notes of US$1,000 each and £93 million (2009 - £93 million; 2008 - £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 non-controlling interest trust preferred securities on consolidation (see Note 28).
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 the Dutch State on legal separation of ABN AMRO Holding N.V.
353RBS Group 2010
Financial statements