By Marisa Wong
Madison, Wis., Nov. 12 - Royal Bank of Scotland NV priced $5 million of fixed-rate step-up notes due Nov. 16, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first six years. After that, the rate will be 5% from Nov. 16, 2016 to Nov. 15, 2018 and then 6% from Nov. 16, 2018 until maturity. Interest is payable semiannually.
The payout at maturity will be par.
RBS Securities Inc. is the underwriter.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Fixed-rate step-up notes
|
| Amount: | $5 million
|
| Maturity: | Nov. 16, 2020
|
| Coupon: | 4% for first six years, 5% for years seven and eight and then 6% until maturity; payable semiannually
|
| Price: | Par
|
| Pricing date: | Nov. 10
|
| Settlement date: | Nov. 16
|
| Underwriter: | RBS Securities Inc.
|
| Fees: | 2.05%
|
| Cusip: | 78009KNR9
|
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