Published on 1/2/2013 in the Prospect News Structured Products Daily.
New Issue: RBS prices $682,000 digital notes with fixed buffer on Russell 2000
By Jennifer Chiou
New York, Jan. 2 - Royal Bank of Scotland plc priced $682,000 of 0% digital notes with fixed buffer due Jan. 4, 2016 linked to the Russell 2000 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 a digital return of 24%.
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
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Issue: | Digital notes with fixed buffer
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Underlying index: | Russell 2000
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Amount: | $682,000
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Maturity: | Jan. 4, 2016
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | $1,240 per $1,000 principal amount of notes if index return is greater than or equal to zero; par if index declines by 20% or less; 1% loss for every 1% that index declines beyond 20%
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Initial index level: | 837.40
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Buffer level: | 669.92, 80% of initial value
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Pricing date: | Dec. 27
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Settlement date: | Dec. 31
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Underwriter: | RBS Securities Inc.
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Fees: | 2.7%
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Cusip: | 78009PDJ7
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