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SECURITY DESCRIPTION: TCF Capital I, 10.75% Capital Securities, Series I, liquidation amount $25 per share, guaranteed by TCF Financial Corp. (NYSE: TCB) (See our definition of Guaranteed in our Glossary of Income Investing Terms for the technicalities of the guarantee), redeemable at the issuer's option on or after 8/15/2013 at $25 per share plus accrued and unpaid dividends, and maturing 8/15/2068. Distributions of 10.75% ($2.6875) per annum are paid quarterly on 2/15, 5/15, 8/15 & 11/15 to holders of record on the record date which is one business day prior to the payment date while the securities remain in book-entry form (NOTE: the ex-dividend date is at least 2 business days prior to the record date). Dividends paid by trust preferred securities are derived from interest paid to the underlying debt securities and therefore are NOT eligible for the 15% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. The company has the right, at any time, to defer dividend payments for up to 40 consecutive quarters without giving rise to an event of default (but not beyond the maturity date) and up to 20 consecutive quarters before the alternative payment mechanism takes effect. The trust's assets consist of the 10.75% Junior Subordinated Deferrable Interest Notes due 8/15/2068 which were purchased from the company using the funds generated from the sale of the trust preferred securities. See the IPO prospectus for further information on the trust preferred securities by clicking on the ‘Link to IPO Prospectus’ provided below.