By Jennifer Chiou
New York, Feb. 23 - Royal Bank of Scotland NV priced $8 million of callable fixed-rate step-up notes due Feb. 25, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4.5% for years one through four, 6% for the next four years and 7% up to maturity. Interest is payable semiannually.
The payout at maturity will be par.
Beginning Feb. 25, 2012, 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: | Callable step-up fixed-rate notes
|
| Amount: | $8 million
|
| Maturity: | Feb. 25, 2021
|
| Coupon: | 5% up to Feb. 25, 2015, stepping up to 6% until Feb. 25, 2019 and to 7% up to maturity; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from Feb. 25, 2012 onward
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 28
|
| Agent: | RBS Securities Inc.
|
| Fees: | 2.178%
|
| Cusip: | 78009KQZ8
|
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