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Royal Bank of Scotland plans digital buffer securities tied to S&P 500
By Angela McDaniels
Tacoma, Wash., March 17 - Royal Bank of Scotland NV plans to price 0% digital buffer securities due April 13, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus 15.6%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes will price April 12 and settle April 15.
RBS Securities Inc. is the lead agent.
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