Capital One Announces Redemption of "Coastal Capital Trust I" Trust Preferred Securities.MCLEAN, Va. -- Capital One Financial Corporation (NYSE NYSE See: New York Stock Exchange : COF) announced today that it will redeem in full the Coastal Capital Trust I 2,000,000 9% Cumulative Trust Preferred Securities, CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 190428201, (the "TPS"). The redemption will occur on June 30, 2007 (the "Redemption Date"). The redemption price will be $25 for each unit, plus accrued and unpaid interest (the "Redemption Price"). On June 30, the Redemption Price will become due and payable, and interest on the securities will no longer accrue. Payment of the Redemption Price for the TPS will be made upon presentation and surrender of the TPS to The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. . About Capital One Headquartered in McLean, Virginia, Capital One Financial Corporation (www.capitalone.com) is a financial holding company, with more than 720 locations in New York, New Jersey, Connecticut, Texas and Louisiana. Its principal subsidiaries, Capital One Bank, Capital One, F.S.B., Capital One Auto Finance, Inc., Capital One, N.A., and North Fork Bank North Fork Bank was an American bank headquartered in Melville, New York purchased by Capital One at the end of 2006 for $14.6 billion U.S. dollars. It was only the second bank bought by Capital One, and was the larger of two acquisitions comprising Capital One's 2005-06 expansion offer a broad spectrum of financial products and services to consumers, small businesses and commercial clients. Capital One's subsidiaries collectively had $87.7 billion in deposits and $142.0 billion in managed loans outstanding as of March 31, 2007. Capital One, a Fortune 500 company, trades on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol "COF" and is included in the S&P 100 index. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion