New Issue: RBS prices $340,000 11% reverse convertibles linked to Freeport-McMoRan

New York, Oct. 27 - Royal Bank of Scotland NV priced $340,000 of 11% Knock-In Reverse Exchangeable notes due Jan. 28, 2011 linked to the Freeport-McMoRan Copper & Gold Inc. index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price of $73.71, 75% of the initial price of $98.28, during the life of the notes and finish below the initial price in which case the payout will be 10.175 shares of Freeport-McMoRan stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
Amount:	$340,000
Maturity:	Jan. 28, 2011
Coupon:	11%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Freeport-McMoRan shares fall below the protection price of $73.71, 75% of the initial price, and finish below the initial price, in which case 10.175 shares of Freeport-McMoRan stock
Initial price:	98.28
Protection price:	$73.71, 75% of $98.28
Exchange ratio:	10.175
Pricing date:	Oct. 26
Settlement date:	Oct. 29
Agent:	RBS Securities Inc.
Fees:	1.5%

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