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RBS US Large Cap Trendpilot Exchange Traded Notes due 12/7/2040
Ticker Symbol: TRND* CUSIP: 78009L308 Exchange: NYSEA
* NOTE: This security is no longer trading as of 7/07/2015
Company's Online Profile
BUSINESS: RBS US Large Cap Trendpilot Exchange Traded Notes (ETN) due December 7, 2040 are unsecured and unsubordinated obligations of The Royal Bank of Scotland N.V. (RBS NV), and are fully and unconditionally guaranteed by RBS Holdings N.V. INVESTMENT OBJECTIVE: The RBS US Large Cap Trendpilot ETNs are designed for investors who seek exposure to the RBS US Large Cap Trendpilot Index. INDEX DESCRIPTION: The RBS US Large Cap Trendpilot Index utilizes a systematic trend-following strategy to provide exposure to either the S&P 500 Total Return Index (the Benchmark Index) or the yield on a hypothetical notional investment in 3-month U.S. Treasury bills (the Cash Rate), depending on the relative performance of the Benchmark Index on a simple historical moving average basis. If the level of the Benchmark Index is at or above its historical 200-Index business day simple moving average for five consecutive Index business days (i.e., a positive trend is established), the Index will track the return on the Benchmark Index and will have no exposure to the Cash Rate until a negative trend occurs. Conversely, if the level of the Benchmark Index is below such average for five consecutive Index business days (i.e., a negative trend is established), then the Index will track the Cash Rate instead of the return on the Benchmark Index and will have no exposure to the Benchmark Index until the next positive trend. The notes do not pay any interest during their term and do not guarantee any return of principal at maturity or upon redemption. MATURITY AND FEES: If you hold your ETNs to maturity, December 7, 2040, you will receive a cash payment at maturity equal to the stated principal amount of your ETNs multiplied by the index performance ratio minus the tracking fee, each as determined on the final valuation date. The annual investor fee will be equal to (a) 1.00% per annum when the Index is tracking the Benchmark Index and (b) 0.50% per annum when the Index is tracking the Cash Rate. These notes constitute the company's direct, unconditional, unsecured and unsubordinated obligations and ranking pari passu, with all their other outstanding unsecured and unsubordinated obligations. For fee calculations and further information on this ETN click on the Link to IPO Prospectus provided.
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Notes: June 22, 2015 -- The Royal Bank of Scotland plc (RBS plc) announced today that it has elected to redeem the thirteen exchange traded notes (the ETNs) on or about July 7, 2015: RBS plc previously disclosed in the related pricing supplement for each ETN its expectation that it would redeem the ETNs. The expected redemption is a consequence of RBS plc's exit of the structured retail investor products business. RBS plc expects to provide notice of redemption to the trustee and to the holders of the ETNs via The Depository Trust Company on June 29, 2015. The daily redemption value of each ETN will be determined on its applicable valuation date. Payment of the daily redemption value of each ETN is expected to be made on the sixth business day following the date of the notice of redemption, which is expected to be July 7, 2015. Accordingly, the last day of trading for each ETN is expected to be July 6, 2015.
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IPO - 12/6/2010 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $60.4 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: RBS American Headquarters, 600 Washington Boulevard, Stamford, CT 06901 |
| Main Phone Number |
203-897-2700 |
| Fax Number |
Not Available |
| Investor Relations
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855-727-3877
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| Toll Free Phone Number |
855-727-3877 |
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