Capital One Announces Redemption of $3.65 Billion of Outstanding Trust Preferred Capital Securities

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Capital One Announces Redemption of $3.65 Billion of Outstanding Trust Preferred Capital Securities

MCLEAN, Va.--(BUSINESS WIRE)-- Capital One Financial Corporation (NYS: 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 III7.686% Capital Securities$650,000,00014042BAA4
Capital One Capital IV6.745% Capital Securities$500,000,000140422AA4
Capital One Capital V10.25% Cumulative Trust Preferred Securities$1,000,000,00014043CAB9
Capital One Capital VI8.875% Cumulative Trust Preferred Securities$1,000,000,00014043DAB7
Coastal Capital Trust IIFloating Rate Preferred Securities$10,000,000190430AA6
 

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 II7.50% Enhanced Trust Preferred Securities$345,000,00014041L204
 

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 II8.00% Capital Trust Pass-Through Securities$100,000,000659437AA5
 

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 I8.17% 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.



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

KEYWORDS:   United States  North America  Virginia

INDUSTRY KEYWORDS:

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