Shearman & Sterling represented the underwriters, led by RBS Securities Inc., in connection with The Royal Bank of Scotland Group plc’s inaugural contingent convertible securities offering of $2 billion aggregate principal amount of 7.500% perpetual subordinated contingent convertible additional tier 1 capital notes (callable August 2020 and every five years thereafter) and $1.15 billion aggregate principal amount of 8.000% perpetual subordinated contingent convertible additional tier 1 capital notes (callable August 2025 and every five years thereafter).

The Royal Bank of Scotland Group plc is the holding company of a large international banking and financial services organization. It is headquartered in Edinburgh and serves over 24 million customers in Europe, Asia, the Middle East and North America.

The Team