RBS eyes eight-year callable capped floating-rate notes tied to Libor

By Susanna Moon

Chicago, Nov. 3 - Royal Bank of Scotland NV plans to price callable capped CMS steepener notes due November 2018 based on Libor, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be Libor plus 100 basis points, with a minimum rate of 3.15% and up to a maximum rate of 8%. Interest is payable quarterly.

The notes are callable at par plus accrued interest beginning Nov. 22, 2012.

The payout at maturity will be par.

The notes (Cusip 78009KNS7) will price on Nov. 17 and settle on Nov. 22.

RBS Securities Inc. is the underwriter.

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