177 ANNUAL REPORT 2010 SHARPENING OUR FOCUS 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. 1  Issued by a subsidiary of AEGON N.V. 2  Issued by a subsidiary of, and guaranteed by AEGON N.V. 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). 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  NOTE 18  TRUST PASS-THROUGH SECURITIES  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.  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.  Perpetual cumulative subordinated bonds Coupon  rate Coupon  date Year of  next call 2010 2009 2008 EUR 203 million 7.125%  1,4 March 4 2011 203 203 203 EUR 114 million 4.156%  2,4 June 8 2015 114 114 114 EUR 136 million 5.185%  3,4 October 14 2018 136 136 136 AT DECEMBER 31 453 453 453 Coupon  rate Coupon  date Year of  issue  Year of  maturity  Year of next call 2010 2009 USD 18 million  1 Floating Quarterly, July 23 2004 2034 2011 14 13 USD 225 million  2 7.65% Semi–annually, December 1 1996 2026 n.a. 91 82 USD 190 million  2 7.625% Semi–annually, November 15 1997 2037 n.a. 38 35 AT DECEMBER 31 143 130