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RBS Oil Trendpilot Exchange Traded Notes due 2/15/2041
Ticker Symbol: TWTI** CUSIP: 78009P127 Exchange: NYSEA
* NOTE: This security is no longer trading as of 7/07/2015
Company's Online Profile
BUSINESS: RBS Oil Trendpilot Exchange Traded Notes (ETN) due February 15, 2041 are unsecured and unsubordinated obligations issued by The Royal Bank of Scotland plc (RBS plc) which are fully and unconditionally guaranteed by The Royal Bank of Scotland Group plc (RBSG). INVESTMENT OBJECTIVE: The RBS Oil Trendpilot ETNs are designed for investors who seek exposure to the RBS Oil Trendpilot Index. INDEX DESCRIPTION: The RBS Oil Trendpilot Index utilizes a systematic trend-following strategy to provide exposure to either the RBS 12-Month Oil Total Return Index (USD) or the yield on a hypothetical notional investment in 3-month U.S. Treasury bills as of the most recent weekly auction, depending on the relative performance of the Benchmark Index on a simple historical moving average basis. The RBS 12-Month Oil Total Return Index utilizes a rules-based methodology to provide exposure to a hypothetical notional investment in a series of twelve light sweet crude oil (WTI) futures contracts that are traded on the New York Mercantile Exchange (NYMEX). The twelve futures contracts comprising the RBS 12-Month Oil Total Return Index on any given day will be the futures contract scheduled to expire in the immediately following calendar month and futures contracts scheduled to expire in each of the eleven months thereafter. The RBS 12-Month Oil Total Return Index iss rebalanced on a monthly basis so that each of the twelve futures contracts is equally weighted upon each rebalancing. RETURNS AND MATURITY: The return on the Securities may be positive or negative and is directly linked to the performance of the RBS Oil Trendpilot Index, which is based on a variety of market and economic factors, interest rates in the markets and economic, financial, political, regulatory, judicial or other events that affect the markets generally. If your ETNs have not previously been repurchased or redeemed by RBS plc, at maturity you will receive a cash payment equal to the daily redemption value of your ETNs on the final valuation date. REDEMPTION AND FEES: If you elect to offer your ETNs for repurchase, and the requirements for acceptance by RBS plc are met, you will receive a cash payment on the applicable repurchase date in an amount equal to the daily redemption value on the relevant valuation date. The annual investor fee will be equal to (a) 1.10% per annum when the Index is tracking the Benchmark Index and (b) 0.50% per annum when the Index is tracking the Cash Rate. For calculations of fees and any 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 - 9/15/2011 -
Link to IPO Prospectus
Micro Cap Stock -
Market Value $4.0 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 Contact
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855-727-3877
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| Toll Free Phone Number |
855-727-3877 |
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