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RBS plans capped enhanced participation notes linked to S&P 500
By Jennifer Chiou
New York, April 7 - Royal Bank of Scotland NV plans to price 0% capped enhanced participation notes with fixed buffer due April 29, 2013 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any increase in the index, subject to a maximum return of 20% to 22% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 78009PAE1) are expected to price on April 26 and settle on April 29.
RBS Securities Inc. is the underwriter.
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