Published on 5/27/2011 in the Prospect News Structured Products Daily.
New Issue: RBS prices $3.08 million capped enhanced participation notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 27 - Royal Bank of Scotland plc priced $3.08 million of 0% capped enhanced participation notes due May 31, 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 18.5%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
RBS Securities Inc. is the underwriter.
Issuer: | Royal Bank of Scotland
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Issue: | Capped enhanced participation notes
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Underlying index: | S&P 500
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Amount: | $3,077,000
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Maturity: | May 31, 2013
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus triple any index gain, up to maximum return of 18.5%; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 1,320.47
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | RBS Securities Inc.
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Fees: | 1%
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Cusip: | 78009PAJ0
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