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Capital One Bank (USA), National Association Announces Final Results Of Subordinated Note Exchange Offer

Capital One Financial Corporation (NYSE: COF) announced today that its subsidiary, Capital One Bank (USA), National Association (“COBNA”) received the final results of its previously announced offer to exchange any and all of its outstanding 8.80% Subordinated Notes due 2019 (the “Old Notes”) for a combination of new Subordinated Notes due 2023 (the “New Notes”) and cash.

The exchange offer expired at 11:59 p.m., New York City time, on February 20, 2013.

The following table indicates, among other things, the principal amount of the Old Notes validly tendered for exchange as of the final participation date:

CUSIP Number

        Title of Old Notes        

Principal Amount Outstanding Following Final Settlement Date

       

Cumulative Principal Amount Tendered as of the Expiration Date

140420 MV9 8.80% Subordinated Notes due 2019 $294,116,000 $1,205,884,000 (80.39%)

In accordance with the terms of the exchange offer, COBNA has accepted or will accept all of the Old Notes that were validly tendered for exchange. COBNA expects final settlement to take place on February 22, 2013.

Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. served as lead dealer managers in connection with the exchange offer. For additional information regarding the terms of the exchange offer, please contact the lead dealer managers: Credit Suisse Securities (USA) LLC at +1 (800) 820 1653 (toll free) or +1 (212) 538 2147 (collect) or Deutsche Bank Securities Inc. at +1 (855) 287 1922 (toll free) or +1 (212) 250 7527 (collect).

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