RBS to price digital notes with buffer linked to Dow

By Angela McDaniels

Tacoma, Wash., April 3 - Royal Bank of Scotland plc plans to price 0% digital notes with fixed buffer due Oct. 30, 2015 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 the greater of the digital return and the index return. The digital return is expected to be 14.5% to 16.5% and 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: 78009PCS8) will price April 26 and settle April 30.

RBS Securities Inc. is the underwriter.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.