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RBS plans to price digital notes with fixed buffer linked to the Dow
By Toni Weeks
San Diego, Nov. 8 - Royal Bank of Scotland plc plans to price 0% digital notes with fixed buffer due Dec. 1, 2016 linked to the Dow Jones industrial average, according to a 424B5 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus a digital return of 14% to 18%. The exact digital return will be set at pricing.
Investors will receive par if the index falls by up to 20% and will lose 1% for every 1% that the index declines beyond 20%.
The notes (Cusip: 78009PDG3) will price Nov. 28 and settle Nov. 30.
RBS Securities Inc. is the underwriter.
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