Here are the details I have found...

Requirement that RBS shall not pay investors any dividends or coupons on existing hybrid capital instruments (including preference shares and B Shares) or exercise any call rights in respect of such existing securities for a two year period unless there is a legal obligation to do so. The extent and timing of this obligation and the securities which it will impact is subject to further discussion between RBS, HM Treasury and the EC.

link: http://www.investors.rbs.com/news/releas...

Here is what the fund owns of RBS, 6.18% of holdings.

Name Rate %OfFund PosDate
PGF ROYAL BK SCOTLND 7.25% 2.31% 11/3/09
PGF ROYAL BK SCOTLND 6.35% 1.15% 11/3/09
PGF ROYAL BK SCOTLND 6.60% 0.96% 11/3/09
PGF ROYAL BK SCOTLND 6.40% 0.87% 11/3/09
PGF ROYAL BK SCOTLND 6.75% 0.68% 11/3/09
PGF ROYAL BK SCOTLND 6.25% 0.22% 11/3/09