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Division 5.1 CGD undertakes to repay the EUR 900 million CoCos in the following tranches:

United Kingdom

Original text. Later amendments are not shown.

  1. 5.1.1.

    For the fiscal year 2014: [50-60] % of the excess capital above the applicable minimum capital requirement under European and Portuguese law (including pillar 1 and 2) plus a capital buffer of [100-150] bps.

  2. 5.1.2.

    For the fiscal years 2015 and following: [90-100] % of the excess capital above the applicable minimum capital requirement under European and Portuguese law (including pillar 1 and 2) plus a capital buffer of [100-150] bps.