New Issue: RBS prices $556,000 digital notes with buffer linked to S&P 500

By Jennifer Chiou

New York, June 28 - Royal Bank of Scotland plc priced $556,000 of 0% digital notes with fixed buffer due July 2, 2014 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par plus 13%. Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that the index declines beyond 20%.

RBS Securities Inc. is the underwriter.

Issuer:	Royal Bank of Scotland plc
Issue:	Digital notes with fixed buffer
Underlying index:	S&P 500
Amount:	$556,000
Maturity:	July 2, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 13% if final index level is greater than or equal to initial index level; par if index declines by 20% or less; 1% loss for every 1% drop beyond 20%
Initial index level:	1,331.85
Buffer value	1,065.48, 80% of initial level
Pricing date:	June 27
Settlement date:	June 29
Underwriter:	RBS Securities Inc.
Fees:	2.7%
Cusip:	78009PCX7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.