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Total Return Index(SM); and (ii) 0.50% per annum when any of the Trendpilot[tm]
Indices that are tracked by the RBS ETNs are tracking the yield on a
hypothetical notional investment in 3-month U.S. Treasury bills as of the most
recent weekly auction (the "Cash Rate").
CERTAIN RISK CONSIDERATIONS: The RBS ETNs involve risks not associated with an
investment in conventional debt securities, including a possible loss of some or
all of your investment. The level of the relevant Index must increase by an
amount sufficient to offset the aggregate investor fee applicable to the RBS
ETNs in order for you to receive at least the principal amount of your
investment back at maturity or upon early repurchase or redemption. The RBS Oil
Trendpilot(TM) ETNs and the RBS Oil Trendpilot(TM) Index (USD) do not provide
exposure to spot prices of crude oil and, consequently, may not be
representative of an investment that provides exposure to crude oil. Each
Trendpilot[tm] Index may underperform its respective Benchmark Index, and is
expected to perform poorly in volatile markets. The RBS China Trendpilot[tm]
ETNs involve risks associated with an investment in emerging markets, as well as
currency exchange risk. Even though the RBS ETNs are listed on the NYSE Arca, a
trading market may not develop and the liquidity of the RBS ETNs may be limited
an/or vary over time, as RBS plc is not required to maintain any listing of the
RBS ETNs. The RBS ETNs are not principal protected and do not pay interest. Any
payment on the RBS ETNs is subject to the ability of the applicable issuer and
guarantor to pay their respective obligations when they become due. You should
carefully consider whether the RBS ETNs are suited to your particular
circumstances before you decide to purchase them. We urge you to consult with
your investment, legal, accounting, tax and other advisors with respect to any
investment in the RBS ETNs.
The RBS ETNs are not suitable for all investors. You should carefully read the
relevant pricing supplement and prospectus, including the more detailed
explanation of the risks involved in any investment in the RBS ETNs as described
in the "Risk Factors" section of the applicable pricing supplement, before
investing.
IMPORTANT INFORMATION: The Royal Bank of Scotland plc (RBS plc), The Royal Bank
of Scotland Group plc, The Royal Bank of Scotland N.V. (RBS N.V.) and RBS
Holdings N.V. (collectively, the RBS Entities) have filed a registration
statement (including a prospectus) with the Securities and Exchange Commission
(SEC) for the offering of RBS ETNs to which this communication may relate.
Before you invest in any RBS ETNs, you should read the relevant prospectus in
such registration statement and other documents that have been filed with the
SEC for more complete information about the relevant RBS Entities and offerings.
You may get these documents for free by visiting EDGAR on the SEC website at
www.sec.gov. Alternatively, RBS N.V., RBS plc, RBS Securities Inc. (RBSSI) or
any dealer participating in the relevant offering will arrange to send you the
relevant prospectus and pricing supplements if you request by calling
1-855-RBS-ETPS (toll-free).
RBS China Trendpilot[tm] Index, RBS US Large Cap Trendpilot[tm] Index (USD), RBS
US Mid Cap Trendpilot[tm] Index (USD) and RBS Gold Trendpilot[tm] Index (USD)
are the property of The Royal Bank of Scotland plc, which has contracted with
SandP Opco, LLC (a subsidiary of SandP Dow Jones Indices LLC) ("SandP Dow Jones
Indices") to maintain and calculate these Trendpilot Indices. The SandP 500([R])
Index and the SandP MidCap 400([R]) Index are the exclusive property of SandP
Dow Jones Indices and have been licensed for use by RBSSI and its affiliates in
connection with the RBS US Large Cap Trendpilot[tm] Index (USD) and the RBS US
Mid Cap Trendpilot[tm] Index (USD), respectively. SandP Dow Jones Indices shall
have no liability for any errors or omissions in calculating these
Trendpilot[tm] Indices. SandP([R]) is a registered trademark of SPFS Standard
and Poor's Financial Services LLC ("SPFS") and Dow Jones([R]) is a registered
trademark of Dow Jones Trademark Holdings LLC ("Dow Jones"). These trademarks
have been licensed to SandP Dow Jones Indices.
"Standard and Poor's([R])", "SandP([R])", "SandP 500([R])" and "SandP MidCap
400([R])" are registered trademarks of SPFS and together with the "Calculated by
SandP Dow Jones Indices Custom" and its related stylized mark(s) have been
licensed for use by RBSSI and its affiliates. The RBS China Trendpilot[tm] ETNs,
RBS US Large Cap Trendpilot[tm] ETNs, RBS US Mid Cap Trendpilot[tm] ETNs and RBS
Gold Trendpilot[tm] ETNs are not sponsored, endorsed, sold or promoted by SandP
Dow Jones Indices, SPFS, Dow Jones, their affiliates or their third party
licensors, and neither SandP Dow Jones Indices, SPFS, Dow Jones, their
affiliates or their third party licensors make any representation regarding the
advisability of investing in such RBS ETNs.
NASDAQ([R]), OMX([R]), NASDAQ OMX([R]), NASDAQ-100([R]), NASDAQ-100 Index([R])
and NASDAQ-100([R]) Total Return IndexSM are registered trademarks and service
marks of The NASDAQ OMX Group, Inc. and are licensed for use by RBS plc. The RBS
NASDAQ-100([R]) Trendpilot(TM) Index is the property of RBS plc. RBS plc has
contracted with The NASDAQ OMX Group, Inc. (which with its affiliates and
subsidiaries is referred to as the "Corporations") to calculate and maintain the
RBS NASDAQ-100([R]) Trendpilot(TM) Index, either directly or through a third
party. Currently, the RBS NASDAQ-100([R]) Trendpilot(TM) Index is calculated and
maintained by Standard and Poor's ("SandP") on behalf of The NASDAQ OMX Group,
Inc. SandP and the Corporations shall have no liability for any errors or
omissions in calculating the Index. The RBS NASDAQ-100([R]) Trendpilot(TM) ETNs,
which are based on the RBS NASDAQ-100([R]) Trendpilot(TM) Index, have not been
passed on by the Corporations or SandP as to their legality or suitability and
are not sponsored, endorsed, sold or promoted by the Corporations or SandP. THE
CORPORATIONS AND SandP MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO
THE RBS NASDAQ-100([R]) TRENDPILOT(TM) ETNs.
RBS Oil Trendpilot(TM) Index (USD) and RBS 12-Month Oil Total Return Index (USD)
are the property of RBS plc and are calculated by NYSE Arca, a wholly-owned
subsidiary of NYSE Euronext. The RBS Oil Trendpilot[tm] ETNs, which track the
RBS Oil Trendpilot(TM) Index (USD) and RBS 12-Month Oil Total Return Index
(USD), are not issued, sponsored, endorsed, sold or promoted by NYSE Arca, and
NYSE Arca makes no representation regarding the advisability of investing in
such ETNs. NYSE ARCA MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY
EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A
PARTICULAR PURPOSE WITH RESPECT TO THE RBS OIL TRENDPILOT[tm] INDEX (USD) OR RBS
12-MONTH OIL TOTAL RETURN INDEX (USD) OR ANY DATA INCLUDED THEREIN. IN NO EVENT
SHALL NYSE ARCA HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR
CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE
POSSIBILITY OF SUCH DAMAGES.
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