New Issue: RBS prices $3 million of 10-year capped fixed-to-floating notes

By Jennifer Chiou

New York, June 10 - Royal Bank of Scotland NV priced $3 million of capped fixed-to-floating notes due June 14, 2021 linked to Libor, according to a 424B5 filing with the Securities and Exchange Commission.

The initial interest rate is 5%. Beginning on June 14, 2013, the interest rate will be equal to Libor plus 170 basis points, subject to a minimum rate of zero and a maximum rate of 7% per year. Interest will be payable quarterly.

The payout at maturity will be par.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Capped fixed-to-floating notes
Underlying rate:	Libor
Amount:	$3 million
Maturity:	June 14, 2021
Coupon:	5% initially; beginning June 14, 2013, equal to Libor plus 170 basis points, subject to a minimum rate of zero and maximum rate of 7%; payable quarterly
Price:	Par of $100,000
Payout at maturity:	Par
Pricing date:	June 9
Settlement date:	June 14
Underwriter:	RBS Securities Inc.
Fees:	1%
Cusip:	78009PAP6

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