RBS goes ‘Coco’ in latest bond issue
They will trade on the Irish stock exchange.
The additional tier one capital includes $2m in five-year notes paying 7.5 per cent and $1.15m in 10-year notes paying eight per cent.
They will reduce the state-owned lender’s leverage ratio to 5.3 per cent (at June 30), assuming the divestment of Citizens.
Chief executive, Ross McEwan, said: “This is another important step in the road towards becoming a much stronger, safer bank.
“Improving our capital resilience has been an integral part of our plan and we are well on track to achieve this.”