Filed pursuant to Rule 433 | Registration Statement Nos. 333-162193 and
333-162193-01

How does your gold stack up?

The RBS Gold Trendpilot([]) ETN provides exposure to the price of gold bullion
or the yield on 3-month US Treasury bills using a systematic strategy, based on
price trends of gold bullion. By moving in and out of tracking gold prices
according to an objective and transparent methodology, the RBS Gold
Trendpilot([]) ETN provides exposure to gold in positive trending markets, and
exposure to 3-month US Treasury bills in negative trending markets.

The Trend is Your Friend([])

Visit rbs.com/etnUS or call 855.RBS.ETPS to learn more.

IMPORTANT INFORMATION: The Royal Bank of Scotland N.V. (RBS NV) and RBS
Holdings N.V. (RBS Holdings) have []led a registration statement (including a
prospectus) with the US Securities and Exchange Commission (SEC) for the
offering of RBS ETNs to which this communication relates. Before you invest in
any RBS ETNs, you should read the prospectus in that registration statement and
other documents that have been []led with the SEC for more complete information
about RBS NV and RBS Holdings, and the offering. You may get these documents
for free by visiting EDGAR on the SEC's web site at www.sec.gov. Alternatively,
RBS NV, RBS Holdings, RBS Securities Inc. (RBSSI) or any dealer participating
in the relevant offering will arrange to send you the prospectus and the
pricing supplement at no charge if you request it by calling 1-855-RBS-ETPS
(toll-free).