By Toni Weeks
San Diego, Feb. 23 - Royal Bank of Scotland NV priced $20 million of step-up fixed-rate callable notes due Feb. 25, 2026, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is 5.25% for the first five years. It will step up to 6% on Feb. 25, 2016 and to 8% on Feb. 25, 2021. Interest is payable semiannually.
The payout at maturity will be par.
After one year, the notes will be callable at par on any interest payment date.
RBS Securities Inc. is the agent.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Step-up fixed-rate callable notes
|
| Amount: | $20 million
|
| Maturity: | Feb. 25, 2026
|
| Coupon: | 5.25% initially, steps up to 6% on Feb. 25, 2016 and to 8% on Feb. 25, 2021; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on interest payment dates starting Feb. 25, 2012
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Agent: | RBS Securities Inc.
|
| Fees: | 3.562%
|
| Cusip: | 78009KQX3
|
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