Capital One Announces Redemption of ''Coastal Capital Trust I'' Trust Preferred Securities
MCLEAN, Va.--(BUSINESS WIRE)--June 19, 2007--Capital One Financial Corporation (NYSE: COF) announced today that it will redeem in full the Coastal Capital Trust I 2,000,000 9% Cumulative Trust Preferred Securities, CUSIP 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.
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 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 under the symbol "COF" and is included in the S&P 100 index.
CONTACT: Capital One Financial Corporation
Jeff Norris, 703-720-2455
Julie Rakes, 804-284-5800
SOURCE: Capital One Financial Corporation