RBS 2012 Annual Report Download - page 439

RBS GROUP 2012
437
2012 2011 2010
Capital
treatment £m £m £m
National Westminster Bank Plc
€500 million 5.125% subordinated notes 2011 — —442
£300 million 7.875% subordinated notes 2015 Lower Tier 2 360 371 370
£300 million 6.5% subordinated notes 2021 Lower Tier 2 410 400 367
Charter One Financial, Inc.
US$400 million 6.375% subordinated notes 2012 (redeemed January 2012) — 261 265
US$350 million 4.150% subordinated notes 2022 (issued September 2012) Ineligible 217 ——
First Active plc
£60 million 6.375% subordinated bonds 2018 (callable quarterly from April 2013) Lower Tier 2 63 64 66
RBS NV and subsidiaries
€250 million 4.70% CMS linked subordinated notes 2019 Lower Tier 2 199 136 181
€100 million 5.13% flip flop Bermudan callable subordinated notes 2017
(callable annually from December 2012) Lower Tier 2 72 78 69
€13 million zero coupon subordinated notes 2029 (callable annually from June 2009) Lower Tier 2 11 14 9
€170 million floating rate sinkable subordinated notes 2041 Lower Tier 2 166 81 240
€15 million CMS linked floating rate subordinated notes 2020 Lower Tier 2 10 710
€1,500 million floating rate Bermudan callable subordinated notes 2015
(callable quarterly from June 2010) Lower Tier 2 1,215 1,246 1,283
€5 million floating rate Bermudan callable subordinated notes 2015 (callable quarterly from October 2010) Lower Tier 2 4 44
US$129 million (2011 and 2010 - US$165 million) 6.14% subordinated notes 2019 Lower Tier 2 75 76 104
US$72 million 5.98% subordinated notes 2019 Lower Tier 2 57 47 42
US$500 million 4.65% subordinated notes 2018 Lower Tier 2 347 354 326
US$1,500 million floating rate Bermudan callable subordinated notes 2015
(callable quarterly from March 2010) Lower Tier 2 892 930 927
AUD575 million 6.50% Bermudan callable subordinated notes 2018 (callable quarterly from May 2013) Lower Tier 2 366 378 371
AUD175 million floating rate Bermudan callable subordinated notes 2018
(callable quarterly from May 2013) Lower Tier 2 109 111 111
€26 million 7.42% subordinated notes 2016 Lower Tier 2 25 25 26
€7 million 7.38% subordinated notes 2016 Lower Tier 2 7 77
£25 million amortising MTN subordinated notes 2011 — —3
US$136 million (2011 and 2010 - US$ 250 million) 7.75% fixed rate subordinated notes 2023 Lower Tier 2 85 90 163
US$150 million 7.13% fixed rate subordinated notes 2093 Lower Tier 2 94 100 98
The Royal Bank of Scotland Berhad
MYR200 million 4.15% subordinated notes 2017 (4) Ineligible 42 42 42
Non-controlling interests subordinated issues 920 20
20,210 19,654 20,658
Notes:
(1) On-lent to The Royal Bank of Scotland plc on a subordinated basis.
(2) Unconditionally guaranteed by the Royal Bank of Scotland.
(3) Partially repurchased following completion of an exchange offer in March 2012.
(4) Issuing entity transferred from being a subsidiary of RBS N.V. to RBS Group in October 2012.
(5) 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.
(6) 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.
(7) Interest on all floating rate subordinated notes is calculated by reference to market rates.