By Marisa Wong
Madison, Wis., July 29 - Royal Bank of Scotland NV priced $3.5 million of 0% leveraged knock-out securities due Aug. 8, 2011 linked to the Trader Vic Index Excess Return, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called if the index closes at or below 55% of the initial level at any time during the life of the notes.
The payment upon redemption or at maturity will be par of $50,000 plus triple the quantity of (a) the index return times an adjustment factor equal to 1 minus 1% per year, minus (b) 1.
RBS Securities Inc. is the agent.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Leveraged knock-out securities
|
| Underlying index: | Trader Vic Index Excess Return
|
| Amount: | $3.5 million
|
| Maturity: | Aug. 8, 2011
|
| Coupon: | 0%
|
| Price: | Par of $50,000
|
| Payout at maturity: | Par plus 300% of the quantity of (a) the index return times an adjustment factor equal to 1 minus 1% per year, minus (b) 1
|
| Call: | Automatically if index closes at or below 55% of the initial level at any time during the life of the notes; redemption price is calculated in the same manner as the payout at maturity
|
| Initial index level: | 4,705.71
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 2
|
| Agent: | RBS Securities Inc.
|
| Fees: | None
|
| Cusip: | 78009KLE0
|
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