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RBS US Large Cap Alternator ETN
Ticker Symbol: ALTL* CUSIP: 78009P168 Exchange: NYSEA
* NOTE: This security is no longer trading as of 7/07/2015
Company's Online Profile
BUSINESS: RBS US Large Cap Alternator Exchange Traded Notes (ETN) due September 5, 2042 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 US Large Cap Alternator ETNs are designed for investors who seek exposure to the RBS US Large Cap Alternator Index. INDEX DESCRIPTION: The RBS US Large Cap Alternator Index utilizes a systematic relative strength strategy to provide exposure to either the S&P 500 Total Return Index, the S&P 500 Low Volatility Total Return Index or the S&P 500 Equal Weight Total Return Index (each, an Underlying Index), depending at any given time on the relative performance of the Underlying Indices as measured by their Relative Strength Scores. A Relative Strength Score is assigned to each Underlying Index on the last Index business day of each calendar month that is not a disrupted day (a determination date) and is the simple average of the returns of that Underlying Index for the prior one-month, three-month, six-month, nine-month and twelve-month periods. The Index will track the return of the Underlying Index with the highest Relative Strength Score on any determination date, but not the other two Underlying Indices, for the following month. REDEMPTION: We will have the right to redeem, in our sole discretion, the ETNs in whole, but not in part, on any business day from, and including, the initial settlement date to, and including, September 3, 2042. The trading day immediately following the date on which we deliver the irrevocable redemption notice will be the valuation date applicable to such redemption. Upon any such redemption, you will receive a cash payment on the applicable redemption date in an amount equal to the daily redemption value on the relevant valuation date. On any business day from, and including, the initial settlement date to, and including, August 27, 2042 you may offer the applicable minimum repurchase amount or more of your ETNs to RBS plc for repurchase. The minimum repurchase amount will be equal to 20,000 ETNs for any single repurchase; provided that RBS plc may, in its sole discretion, from time to time, reduce the minimum repurchase amount. If you elect to offer your ETNs for repurchase, and the requirements 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. MATURITY AND FEES: If your ETNs have not previously been repurchased or redeemed by RBS plc, at maturity, September 5, 2042, you will receive a cash payment equal to the daily redemption value of your ETNs on the final valuation date (subject to postponement if the final valuation date is not a trading day or a market disruption event exists on the final valuation date). The annual investor fee will be equal to 1.00% per annum. 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 - 8/30/2012 -
Link to IPO Prospectus
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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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