RBS plans capped market-linked protected notes linked to S&P 500

By Toni Weeks

San Diego, July 5 - Royal Bank of Scotland plc plans to price 0% capped market-linked notes due July 29, 2016 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 any gain in the index, up to a maximum payment of $1,410 to $1,510 per $1,000 security. The exact cap will be set at pricing.

If the index falls, the payout will be par.

The notes (Cusip: 78009PAX9) are expected to price July 26 and settle July 29.

RBS Securities Inc. is the underwriter.

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