By Marisa Wong
Madison, Wis., March 30 - Royal Bank of Scotland NV priced $20 million of callable fixed-rate step-up notes due March 31, 2019, according to a 424B5 filing with the Securities and Exchange Commission.
The coupon will be 4.5% for the first four years. After that, the rate will be 5% for years five through seven and will step up to 6% for year eight. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on any interest payment date beginning Sept. 30.
RBS Securities Inc. is the underwriter.
Issuer: | Royal Bank of Scotland NV
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Issue: | Callable fixed-rate step-up notes
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Amount: | $20 million
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Maturity: | March 31, 2019
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Coupon: | 4.5% for the first four years, 5% for years five through seven and 6% for year eight; payable semiannually
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Price: | Par of $1,000
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Call option: | At par on any interest payment date beginning Sept. 30
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Pricing date: | March 28
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Settlement date: | March 31
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Underwriter: | RBS Securities Inc.
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Fees: | 2.755%
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Cusip: | 78009KRZ7
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