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1 The coupon of the EUR 203 million bonds is set at 7.125% until March 4, 2011. 2 

The coupon of the EUR 114 million bonds was originally set at 8% until June 8, 2005. As of this date, the coupon is reset at 4.156% until 2015. 3 

The coupon of the EUR 136 million bonds was originally set at 7.25% until October 14, 2008. As of this date, the coupon is reset at 5.185% until October 14, 2018. 4 

If the bonds are not called on the respective call dates and after consecutive period of ten years, the coupons will be reset at the then prevailing effective yield of ten-year Dutch government securities plus a spread of 85 basis points. 

The bonds have the same subordination provisions as dated subordinated debt. In addition, the conditions of the bonds contain provisions for interest deferral and for the availability of principal amounts to meet losses. 

## NOTE 18 TRUST PASS-THROUGH SECURITIES 

Although the bonds have no stated maturity, AEGON has the right to call the bonds for redemption at par for the first time on the coupon date in the years as specified. 

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1 Issued by a subsidiary of AEGON N.V. 2 

Issued by a subsidiary of, and guaranteed by AEGON N.V. 

Trust pass-through securities are securities through which the holders participate in a trust. The assets of these trusts consist of junior subordinated deferrable interest debentures issued by Transamerica Corporation and Clark Consulting Inc. The trust pass-through securities carry provisions with regard to deferral of distributions for extension periods up to a maximum of ten consecutive semi-annual periods. The trust pass-through 

securities are subordinated to all other unsubordinated borrowings and liabilities. There were no defaults or breaches of conditions during the period. 

The fair value of these loans amounts to EUR 117 million (2009: EUR 88 million). 

