New Issue: RBS prices $290,000 8.25% reverse convertibles linked to Cisco Systems

New York, Nov. 24 - Royal Bank of Scotland NV priced $290,000 of 8.25% Knock-In Reverse Exchangeable notes due May 31, 2011 linked to the Cisco Systems, Inc. index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Cisco Systems shares fall below the protection price of $15.36, 80% of the initial price of $19.20, during the life of the notes and finish below the initial price in which case the payout will be 52.083 shares of Cisco Systems stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Cisco Systems, Inc. (Symbol: CSCO)
Amount:	$290,000
Maturity:	May 31, 2011
Coupon:	8.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Cisco Systems shares fall below the protection price of $15.36, 80% of the initial price, and finish below the initial price, in which case 52.083 shares of Cisco Systems stock
Initial price:	19.20
Protection price:	$15.36, 80% of $19.20
Exchange ratio:	52.083
Pricing date:	Nov. 23
Settlement date:	Nov. 30
Agent:	RBS Securities Inc.
Fees:	1.25%

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