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RBS plans two-year digital buffer securities linked to S&P 500 index
By Susanna Moon
Chicago, Oct. 22 - Royal Bank of Scotland NV plans to price 0% digital buffer securities due Nov. 16, 2012 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus a digital return of 11.5% if the index gains.
Investors will receive par if the index falls by up to 20% and will be exposed to any decline beyond 20%.
The notes (Cusip 78009KNP3) are expected to price on Nov. 10 and settle on Nov. 16.
RBS Securities Inc. is the lead agent.
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