RBS plans enhanced participation notes with contingent buffer on Dow

By Angela McDaniels

Tacoma, Wash., Feb. 7 - Royal Bank of Scotland plc plans to price 0% enhanced participation notes with contingent buffer due March 9, 2017 linked to the Dow Jones industrial average, according a 424B5 filing with the Securities and Exchange Commission.

If the final index level is greater than the initial index level, the payout at maturity will be par plus 180% of the index return.

If the final index level is less than the initial level and a knock-out event has not occurred, the payout will be par. If the final index level is less than the initial level and a knock-out event has occurred, investors will be fully exposed to the index decline.

A knock-out event occurs if the index declines by 50% or more during the life of the notes.

The notes (Cusip: 78009PCP4) are expected to price March 6 and settle March 9.

RBS Securities Inc. is the agent.

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