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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 suf[]cient 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
Benchmark Index for the RBS Global Big Pharma ETNs comprises securities of a
limited number of companies concentrated in the pharmaceuticals industry, and
may not be representative of an investment that provides exposure to the
pharmaceutical industry as a whole. 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 and/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 (RBS Group), 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[] ETNs are not sponsored, endorsed,
sold or promoted by SandP Dow Jones Indices, SPFS, Dow Jones, their af[]liates or
their third party licensors, and neither SandP Dow Jones Indices, SPFS, Dow
Jones, their af[]liates or their third party licensors make any representation
regarding the advisability of investing in such RBS ETNs. The RBS US Large Cap
Alternator Index[] (USD) ("Index") is the property of RBS plc (the "Index
Sponsor"), which has contracted with SandP Opco, LLC, a subsidiary of SandP Dow
Jones Indices LLC ("SandP Dow Jones Indices") to maintain and calculate the
Index. The SandP 500([R]) Index, SandP 500 Low Volatility Index([R]) and SandP
500([R]) Equal Weight Index[] (including the total return versions) are the
exclusive property of SandP Dow Jones Indices and have been licensed for use by
the Index Sponsor in connection with the Index. SandP Dow Jones Indices, its
af[]liates and their third party licensors shall have no liability for any
errors or omissions in calculating the Index. SandP([R]) is a registered
trademark of 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.
SandP([R]), SandP 500([R]), SandP 500 Low Volatility Index([R]), SandP 500([R]) Equal
Weight Index[] and SandP 500([R]) EWI[] are 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 the Index Sponsor.
NASDAQ([R]), OMX([R]), NASDAQ OMX([R]), NASDAQ-100([R]), NASDAQ-100 Index([R])
and NASDAQ-100([R]) Total Return Index(SM) are registered trademarks and
service marks of The NASDAQ OMX Group, Inc. and are licensed for use by RBS
plc. The Index is the property of RBS plc. RBS plc has contracted with The
NASDAQ OMX Group, Inc. (which with its af[]liates and subsidiaries is referred
to as the "Corporations") to calculate and maintain the Index, either directly
or through a third party. Currently, the Index is calculated and maintained by
SandP Opco, LLC, a subsidiary of SandP Dow Jones Indices LLC, ("SandP Dow Jones
Indices") on behalf of the Corporations. 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. SandP Dow Jones Indices,
its affiliates and the Corporations shall have no liability for any errors or
omissions in calculating the RBS NASDAQ-100([R]) Trendpilot[TM] Index. The RBS
NASDAQ-100([R]) Trendpilot[TM] Exchange Traded Notes, which are based on the RBS
NASDAQ-100([R]) Trendpilot[TM] Index, have not been passed on by the Corporations
or SandP Dow Jones Indices and its af[]liates as to their legality or suitability
and are not sponsored, endorsed, sold or promoted by the Corporations or SandP
Dow Jones Indices and its af[]liates. SandP DOW JONES INDICES, ITS AFFILIATES AND
THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE
RBS NASDAQ-100([R]) TRENDPILOT[TM] EXCHANGE TRADED NOTES.
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.
The NYSE Arca Equal Weighted Pharmaceutical Index(SM) and the NYSE Arca Equal
Weighted Pharmaceutical Total Return Index(SM) are service marks of NYSE
Euronext or its affiliates (NYSE Euronext) and have been licensed for use by
RBS plc and RBSSI (Licensees) in connection with the RBS Global Big Pharma
ETNS. Neither the Licensees nor the RBS Global Big Pharma ETNS is sponsored,
endorsed, sold or promoted by NYSE Euronext. NYSE Euronext makes no
representations or warranties regarding the RBS Global Big Pharma ETNS or the
ability of the NYSE Arca Equal Weighted Pharmaceutical Index(SM) or the NYSE
Arca Equal Weighted Pharmaceutical Total Return Index(SM) to track general
stock market performance. NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES,
AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR
A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE ARCA EQUAL WEIGHTED
PHARMACEUTICAL INDEX(SM) OR THE NYSE ARCA EQUAL WEIGHTED PHARMACEUTICAL TOTAL
RETURN INDEX(SM) OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL NYSE EURONEXT
HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH
DAMAGES.
BNY Mellon is a corporate brand of The Bank of New York Mellon Corporation and
may be used as a generic term to reference the corporation as a whole or its
various subsidiaries. BNY Mellon and BNY Mellon ADR Indices and BNY Mellon DR
Indices are service marks owned by The Bank of New York Mellon Corporation.
This information is provided for general purposes only and is not investment
advice. We provide no advice nor recommendations or endorsement with respect to
any company, security or products based on any index licensed by BNY Mellon,
and we make no representation regarding the advisability of investing in the
same. BNY Mellon's Depositary Receipt business is conducted through BNY
Mellon.
BNY Mellon does not guarantee the accuracy, timeliness and/or completeness of
BNY Mellon ADR Indices and BNY Mellon DR Indices, or any associated indices, or
any data included therein, and BNY Mellon shall have no liability for any
errors, omissions, or interruptions therein. BNY Mellon makes no express or
implied warranties, and expressly disclaims all warranties of merchantability
or fitness for a particular purpose or use with respect to BNY Mellon ADR
Indices and BNY Mellon DR Indices or any associated indices, or any data
included therein, or any materials derived from such data. Without limiting any
of the foregoing, in no event shall the company have any liability for any
special, punitive, indirect, or consequential damages (including lost profits),
even if notified of the possibility of such damages. For the full disclaimer
please see the pricing supplement relating to the notes that RBS plc and RBS
Group filed with the SEC.
Copyright [C] 2012 RBS Securities Inc. All rights reserved. RBS Securities
Inc., a U.S. registered broker-dealer, member of FINRA and SIPC, is an indirect
wholly-owned subsidiary of The Royal Bank of Scotland plc and an affiliate of
RBS NV.
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