ABN AMRO successfully launches a EUR 1 billion AT1 benchmark transaction

Press release -

ABN AMRO Head Office

Not for release, publication or distribution, in whole or in part, in or into or from Japan, Australia or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of such jurisdiction.

Today, ABN AMRO Bank has successfully launched a EUR 1 billion benchmark transaction of deeply subordinated securities that qualify as Additional Tier 1 capital under CRR.

This inaugural transaction was launched following a roadshow in London, Frankfurt, Paris and Amsterdam. The Perpetual Additional Tier 1 Capital Securities have a temporary write-down loss absorption mechanism, a semi-annual discretionary non-cumulative coupon of 5.75% and are callable at year 5.

This transaction further optimises the capital structure and builds out the buffer of loss absorbing instruments: on a fully loaded and pro forma basis, the Tier 1 ratio reported at Q2 2015 will increase from 14.0% to 14.9% and the leverage ratio will increase from 3.1% to 3.3%.

The AT1 prospectus and the registration document will be available on the ABN AMRO website.

This press release shall not constitute an offer to purchase or the solicitation of an offer to purchase, nor shall there be any sale of these Additional Tier 1 Capital Securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the relevant securities laws of any such jurisdiction.

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