Application will be made to list the Enhanced TRUPS on the New York Stock Exchange. If approved for listing, we expect the Enhanced TRUPS will begin trading on the New York Stock Exchange within 30 days after they are first issued.
We can defer interest payments on the junior subordinated debt securities to be owned by the trust as described in this prospectus supplement. If we defer interest payments, the trust also will defer distribution payments on the Enhanced TRUPS. Additional distributions on the Enhanced TRUPS will accumulate on the deferred distributions at an annual rate equal to 7.50%, compounded quarterly, to the extent permitted by law. If we have deferred interest payments on the junior subordinated debt securities for a period of more than five consecutive years, we will be required to use commercially reasonable efforts to sell our common stock or, at our option, certain qualified preferred stock, and to pay interest on the junior subordinated debt securities only from the net proceeds of those sales of securities.
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Capital One Financial is a financial services holding company. Through its subsidiaries, Co. provides an array of financial products and services. Co. has three primary business segments: Credit Card, which consists of Co.'s domestic consumer and small business card lending, and international card businesses in Canada and the U.K.; Consumer Banking, which consists of Co.'s deposit gathering and lending activities for consumers and small businesses, and national auto lending; and Commercial Banking, which consists of Co.'s lending, deposit gathering, capital markets and treasury management services to commercial real estate and commercial and industrial customers. Preferreds: COF.PRB, COF.PRC, COF.PRP, COF.PRD, COF.PRF, COF.PRG, COF.PRH, COF.PRI, COF.PRJ, COF.PRK, COF.PRL, COF.PRN Open the COF Information Page » |
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