Capital One Announces Redemption of $3.65 Billion of Outstanding Trust Preferred Capital Securities

  Capital One Announces Redemption of $3.65 Billion of Outstanding Trust
  Preferred Capital Securities

Business Wire

MCLEAN, Va. -- November 16, 2012

Capital One Financial Corporation (NYSE: COF) (the “Company”) today announced
the redemption of certain trust preferred capital securities (the
“Securities”), which will be redeemed on January 2, 2013. Section 171 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act mandates that Tier I
capital credit for trust preferred securities be phased out over a three-year
transition period starting on January 1, 2013.

The following Securities will be redeemed pursuant to redemption provisions
relating to the occurrence of a capital treatment event, at a price equal to
100% of the aggregate principal amount of such Securities, plus accrued and
unpaid distributions thereon to the date of redemption:

Trust             Security                    Amount           CUSIP
Capital One         7.686% Capital Securities     $650,000,000       14042BAA4
Capital III
Capital One         6.745% Capital Securities     $500,000,000       140422AA4
Capital IV
Capital One         10.25% Cumulative Trust       $1,000,000,000     14043CAB9
Capital V           Preferred Securities
Capital One         8.875% Cumulative Trust       $1,000,000,000     14043DAB7
Capital VI          Preferred Securities
Coastal Capital     Floating Rate Preferred       $10,000,000        190430AA6
Trust II            Securities
                                                                     

The following Securities will be redeemed pursuant to redemption provisions
relating to optional redemption, at a price equal to 100% of the aggregate
liquidation amount of such Securities, plus accrued and unpaid distributions
thereon to the date of redemption:

Trust         Security                          Amount         CUSIP
Capital One     7.50% Enhanced Trust Preferred      $345,000,000     14041L204
Capital II      Securities
                                                                     

The following Securities will be redeemed pursuant to redemption provisions
relating to optional redemption, at a price equal to 101.9035% of the
aggregate liquidation amount of such Securities, plus accrued and unpaid
distributions thereon to the date of redemption:

Trust               Security                    Amount         CUSIP
North Fork            8.00% Capital Trust           $100,000,000     659437AA5
Capital Trust II      Pass-Through Securities
                                                                     

The following Securities will be redeemed pursuant to redemption provisions
relating to optional redemption, at a price equal to 102.451% of the aggregate
liquidation amount of such Securities, plus accrued and unpaid distributions
thereon to the date of redemption:

Trust                   Security                 Amount        CUSIP
Reliance Capital          8.17% Capital              $45,000,000     759454AC5
Trust I                   Securities
                                                                     759454AB7

The complete terms and conditions of the redemption are as set forth in a
notice to holders of the Securities.

This press release is for informational purposes only and shall not constitute
an offer to sell or a solicitation of an offer to buy any security of Capital
One.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding
company whose subsidiaries, which include Capital One, N.A., and Capital One
Bank (USA), N. A., had $213.3 billion in deposits and $302.0 billion in total
assets outstanding as of September 30, 2012. Headquartered in McLean,
Virginia, Capital One offers a broad spectrum of financial products and
services to consumers, small businesses and commercial clients through a
variety of channels. Capital One, N.A. has approximately1,000 branch
locations primarily in New York, New Jersey, Texas, Louisiana, Maryland,
Virginia and the District of Columbia. ING DIRECT, a division of Capital One,
N.A., offers direct banking products and services to customers nationwide. A
Fortune 500 company, Capital One 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
Investor Relations
Jeff Norris, 703-720-2455
or
Media Relations
Julie Rakes, 804-284-5800
or
Tatiana Stead, 703-720-2352
 
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