By Marisa Wong
Madison, Wis., Oct. 27 - Royal Bank of Scotland NV priced $11.5 million of callable fixed-rate step-up notes due Oct. 29, 2030, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 5% for the first 10 years. After that, the rate will be 5.5% for years 11 through 15, 6% for years 16 through 18 and 7% for years 18 through 20. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on any interest payment date beginning Oct. 29, 2020.
RBS Securities Inc. is the underwriter.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Callable fixed-rate step-up notes
|
| Amount: | $11.5 million
|
| Maturity: | Oct. 29, 2030
|
| Coupon: | 5% for the first 10 years; after that, 5.5% for years 11 through 15, 6% for years 16 through 18 and 7% for years 18 through 20; payable semiannually
|
| Price: | Par of $1,000
|
| Call option: | At par on any interest payment date beginning Oct. 29, 2020
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Underwriter: | RBS Securities Inc.
|
| Fees: | 2.53%
|
| Cusip: | 78009KNA6
|
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