By Marisa Wong
Madison, Wis., Oct. 27 - Royal Bank of Scotland NV priced $6 million of fixed-to-floating-rate notes due Oct. 29, 2020 tied to Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a fixed coupon of 6% for the first year. After that, the coupon will be equal to Libor plus 125 basis points, subject to a floor of 2%. Interest is payable quarterly.
The payout at maturity will be par.
RBS Securities Inc. is the underwriter.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Fixed-to-floating-rate notes
|
| Amount: | $6 million
|
| Maturity: | Oct. 29, 2020
|
| Coupon: | 6% for first year; thereafter, coupon will equal Libor plus 125 bps, with floor of 2%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Underwriter: | RBS Securities Inc.
|
| Fees: | 2.18%
|
| Cusip: | 78009KMV1
|
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