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ABN AMRO has issued Tier 1 capital in the form of Trust Preferred securities. These securities are issued indirectly through a Delaware Trust.
They provide investors with rights to distributions, redemption payments and liquidation payments that are similar to those to which they would be entitled if they had purchased the most senior ranking preferred securities of ABN AMRO Holding N.V.
At present, as a result of the successful public offer for ABN AMRO Holding N.V. by RFS Holdings B.V., only the ultimate ownership of the share capital of ABN AMRO Holding N.V. has changed. The acquisition has therefore, for now, no impact on the status of all debt and related securities currently issued and/or guaranteed by ABN AMRO Holding N.V. or any of its subsidiaries.
Attached is the ABN AMRO's position paper addressing US federal income taxation on distributions for Trust V, Trust VI, and Trust VII.
The ABN AMRO Trust Preferred Securities subject to the position paper are:
* ABN AMRO Capital Funding Trust V -- July 2003 Issue
* ABN AMRO Capital Funding Trust VI -- September 2003 Issue
* ABN AMRO Capital Funding Trust VII -- February 2004 Issue
On September 29, 2009, ABN AMRO Capital Funding Trust V ("Trust V"), ABN AMRO Capital Funding Trust VI ("Trust VI") and ABN AMRO Capital Funding Trust VII ("Trust VII") each filed a Certificate of Amendment to its Declaration of Trust with the office of the Delaware Secretary of State changing its name, effective as of 12:01 A.M. (EDT) on October 1, 2009, as follows:
"ABN AMRO Capital Funding Trust V" to "RBS Capital Funding Trust V"
"ABN AMRO Capital Funding Trust VI" to "RBS Capital Funding Trust VI"
"ABN AMRO Capital Funding Trust VII" to "RBS Capital Funding Trust VII"
The New York Stock Exchange ticker symbol for the 5.90% Non-cumulative Guaranteed Trust Preferred Securities of Trust V guaranteed on a subordinated basis by ABN AMRO Holding N.V. has been changed from "ABNPRE" to "RBSPRE," the Euronext ticker symbol has been changed from "AACFV" to "RBST5," the CUSIP number has been changed from 00372P203 to 74928K208, and the ISIN number has been changed from US00372P2039 to US74928K2087.
The New York Stock Exchange ticker symbol for the 6.25% Non-cumulative Guaranteed Trust Preferred Securities of Trust VI guaranteed on a subordinated basis by ABN AMRO Holding N.V. has been changed from "ABNPRF" to "RBSPRI," the Euronext ticker symbol has been changed from "ACFT6" to "RBST6," the CUSIP number has been changed from 00080V203 to 74928M204, and the ISIN number has been changed from US00080V2034 to US74928M2044.
The New York Stock Exchange ticker symbol for the 6.08% Non-cumulative Guaranteed Trust Preferred Securities of Trust VII guaranteed on a subordinated basis by ABN AMRO Holding N.V. has been changed from "ABNPRG" to "RBSPRG," the Euronext ticker symbol has been changed from "ACFT7" to "RBST7," the CUSIP number has been changed from 00372Q201 to 74928P207, and the ISIN number has been changed from US00372Q2012 to US74928P2074.
Each of Trust V, Trust VI, and Trust VII has been, and continues to be, an indirect wholly-owned subsidiary of ABN AMRO Bank N.V. and ABN AMRO Holding N.V. The name change of each Trust is not a change of the legal entity which issued the Securities, and it does not affect any of the terms and conditions of the Securities. The Securities will continue to be guaranteed on a subordinated basis by ABN AMRO Holding N.V. For further information regarding ABN AMRO Holding N.V., please refer to the reports and other information filed by ABN AMRO Holding N.V. with the Securities and Exchange Commission (the "SEC").
Zie:
www.abnamro.com/financials/securities...