RBS announces pricing terms in tender offers for several note series

By Jennifer Chiou

New York, Jan. 10 - Royal Bank of Scotland plc said it set pricing in its tender offers for several series of outstanding notes.

As reported, in the first set of offers, the company is tendering for its $492,313,000 of floating-rate notes due 2013, $1,073,055,000 of 3.4% senior notes due 2013, $252,822,000 of 3.25% senior notes due 2014, $1,532,382,000 of 4.875% senior notes due 2014, $1,198,792,000 of 4.875% senior notes due 2015, $171,801,000 of 5% senior notes due 2015 and $1,158,364,000 of 3.95% senior notes due 2015.

The total purchase price for each $1,000 principal amount of the outstanding notes will be as follows:

• $1,014.50 for the floaters due 2013;

• $1,018.53 for the 3.4% notes;

• $1,025.68 for the 3.25% notes;

• $1,064.40 for the 4.875% notes due 2014;

• $1,082.75 for the 4.875% notes due 2015;

• $1,091.75 for the 5% notes; and

• $1,073.48 for the 3.95% notes.

Pricing for the six series of fixed-rate notes was fixed at 9:30 a.m. ET on Jan. 10.

The company also will pay accrued interest.

The offers were to end at 12:30 p.m. ET on Jan. 10, with settlement slated for Jan. 14.

Global Bondholder Services Corp. was the tender agent. RBS Securities Inc. (attn.: liability management, 877 297-9832 or collect 203 897-4825) was the global arranger and lead dealer manager. J.P. Morgan Securities LLC (866 834-4666, collect 212 834-2494 or email: yankee.team@jpmorgan.com) and RBS Securities Inc. were the joint dealer managers.

The financial services company is based in Edinburgh.

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