MCLEAN, Va.--(BUSINESS WIRE)--Nov. 16, 2012--
Capital One Financial Corporation (NYSE: COF) (the “Company”) today
announced the redemption of certain trust preferred capital securities
(the “Securities”), which will be redeemed on January 2, 2013. Section
171 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
mandates that Tier I capital credit for trust preferred securities be
phased out over a three-year transition period starting on January 1,
2013.
The following Securities will be redeemed pursuant to redemption
provisions relating to the occurrence of a capital treatment event, at a
price equal to 100% of the aggregate principal amount of such
Securities, plus accrued and unpaid distributions thereon to the date of
redemption:
|
Trust
|
|
|
Security
|
|
|
Amount
|
|
|
CUSIP
|
|
Capital One Capital III
|
|
|
7.686% Capital Securities
|
|
|
$650,000,000
|
|
|
14042BAA4
|
|
Capital One Capital IV
|
|
|
6.745% Capital Securities
|
|
|
$500,000,000
|
|
|
140422AA4
|
|
Capital One Capital V
|
|
|
10.25% Cumulative Trust Preferred Securities
|
|
|
$1,000,000,000
|
|
|
14043CAB9
|
|
Capital One Capital VI
|
|
|
8.875% Cumulative Trust Preferred Securities
|
|
|
$1,000,000,000
|
|
|
14043DAB7
|
|
Coastal Capital Trust II
|
|
|
Floating Rate Preferred Securities
|
|
|
$10,000,000
|
|
|
190430AA6
|
|
|
|
|
|
|
|
|
|
|
|
The following Securities will be redeemed pursuant to redemption
provisions relating to optional redemption, at a price equal to 100% of
the aggregate liquidation amount of such Securities, plus accrued and
unpaid distributions thereon to the date of redemption:
|
Trust
|
|
|
Security
|
|
|
Amount
|
|
|
CUSIP
|
|
Capital One Capital II
|
|
|
7.50% Enhanced Trust Preferred Securities
|
|
|
$345,000,000
|
|
|
14041L204
|
|
|
|
|
|
|
|
|
|
|
|
The following Securities will be redeemed pursuant to redemption
provisions relating to optional redemption, at a price equal to
101.9035% of the aggregate liquidation amount of such Securities, plus
accrued and unpaid distributions thereon to the date of redemption:
|
Trust
|
|
|
Security
|
|
|
Amount
|
|
|
CUSIP
|
|
North Fork Capital Trust II
|
|
|
8.00% Capital Trust Pass-Through Securities
|
|
|
$100,000,000
|
|
|
659437AA5
|
|
|
|
|
|
|
|
|
|
|
|
The following Securities will be redeemed pursuant to redemption
provisions relating to optional redemption, at a price equal to 102.451%
of the aggregate liquidation amount of such Securities, plus accrued and
unpaid distributions thereon to the date of redemption:
|
Trust
|
|
|
Security
|
|
|
Amount
|
|
|
CUSIP
|
|
Reliance Capital Trust I
|
|
|
8.17% Capital Securities
|
|
|
$45,000,000
|
|
|
759454AC5
|
|
|
|
|
|
|
|
|
|
|
759454AB7
|
The complete terms and conditions of the redemption are as set forth in
a notice to holders of the Securities.
This press release is for informational purposes only and shall not
constitute an offer to sell or a solicitation of an offer to buy any
security of Capital One.
About Capital One
Capital One Financial Corporation (www.capitalone.com)
is a financial holding company whose subsidiaries, which include Capital
One, N.A., and Capital One Bank (USA), N. A., had $213.3 billion in
deposits and $302.0 billion in total assets outstanding as of September
30, 2012. Headquartered in McLean, Virginia, Capital One offers a broad
spectrum of financial products and services to consumers, small
businesses and commercial clients through a variety of channels. Capital
One, N.A. has approximately 1,000 branch locations primarily in New
York, New Jersey, Texas, Louisiana, Maryland, Virginia and the District
of Columbia. ING DIRECT, a division of Capital One, N.A., offers direct
banking products and services to customers nationwide. A Fortune 500
company, Capital One trades on the New York Stock Exchange under the
symbol "COF" and is included in the S&P 100 index.
Source: Capital One Financial Corporation
Capital One Financial Corporation
Investor Relations
Jeff
Norris, 703-720-2455
or
Media Relations
Julie
Rakes, 804-284-5800
or
Tatiana Stead, 703-720-2352
