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FOR REGISTERED BROkER/DEALERS AND REGISTERED INvESTMENT ADvISERS ONLY. NOT fOR
DISTRIBUTION TO INDIvIDUAL INvESTORS.
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. The relevant Index may underperform its Benchmark Index,
and is expected to perform poorly in volatile markets. Liquidity of the market
for RBS ETNs may vary over time. The RBS ETNs are not principal protected and
do not pay interest. Any payment on RBS ETNs is subject to the ability of The
Royal Bank of Scotland N.V. or The Royal Bank of Scotland plc, as the issuer,
and RBS Holdings N.V. or The Royal Bank of Scotland Group plc, as the
guarantor, to pay their respective obligations when they come 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 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 []led 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 []led 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.
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 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 Standard and Poor's
Financial Services LLC ("S and P") to maintain and calculate these Trendpilot
Indices. The S and P 500([R]) Index and the S and P MidCap 400([R]) Index are the
exclusive property of S and P and have been licensed for use by RBSSI and its
af[]liates in connection with the RBS US Large Cap Trendpilot(TM) Index (USD)
and the RBS US Mid Cap Trendpilot(TM) Index (USD), respectively. S and P shall have
no liability for any errors or omissions in calculating these Trendpilot(TM)
Indices. "Standard and Poor's([R])", "S and P([R])", "S and P 500([R])" and "S and P MidCap
400([R])" are registered trademarks of S and P. The RBS US Large Cap Trendpilot[]
ETNs, RBS US Mid Cap Trendpilot[] ETNs and RBS Gold Trendpilot[] ETNs are not
sponsored, endorsed, sold or promoted by S and P or its af[]liates, and neither S and P
nor its af[]liates 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 Index(SM) 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
af[]liates 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 ("S and P") on behalf of The
NASDAQ OMX Group, Inc. S and P 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 S and P as to their legality
or suitability and are not sponsored, endorsed, sold or promoted by the
Corporations or S and P. THE CORPORATIONS AND S and P 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[] 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[] 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 af[]liates (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 IndexSM 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.
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