|
|
Historical Performance (%) -- as of 12/31/2012
QUARTER-TO- YEAR-TO-
INCEPTION
DATE (%) DATE (%)
--------------------------------------------------------- ----------- --------
RBS US Mid Cap Trendpilot[] ETN Daily Redemption Value(1) 3.34 11.03
RBS US Mid Cap Trendpilot(TM) Index 3.61 12.13
SandP MidCap 400([R]) Total Return Index (Benchmark Index) 3.61 17.88
SandP MidCap 400([R]) Index (Price Only) 3.18 16.07
Cash rate on 12/31/12 was 0.09% -- --
ANNUALIZED ANNUALIZED ANNUALIZED SINCE RBS ETN
1-YEAR (%) 3-YEAR (%) 5-YEAR (%) (1/25/11) (%)
---------- ---------- ----------
11.03 -- -- -0.85
12.13 -- -- 0.86
17.88 13.62 5.15 13.78
16.07 11.98 3.52 10.53
-- -- -- --
Source: Bloomberg. The table above presents the actual performance of the Index,
the RBS ETNs, the SandP 400([R]) Total Return Index (the Benchmark Index) and
the SandP 400([R]) Index (Price Return) over the speci[]ed periods. It is not
possible to invest directly in an index. For information regarding the
performance of the Index, see pages PS-12 to PS-15 of the pricing supplement to
the RBS ETNs []led with the U.S. Securities and Exchange Commission (SEC). Past
performance does not guarantee future results.
(1) Includes the deduction of the annual investor fee, which accrues on a daily
basis. The annual investor fee will be equal to (i) 1.00% per annum when the
Index is tracking the Benchmark Index, and (ii) 0.50% per annum when the Index
is tracking the Cash Rate.
SandP MidCap 400([R]) Index Performance -- as of 12/31/2012
SandP MidCap 400([R]) Total Return Index
SandP MidCap 400([R]) Total Return Index 200-Index business day simple moving
average SandP MidCap 400([R]) Index (Price Only)
[GRAPHIC OMITTED]
The graph to the left is the historical performance of the SandP MidCap 400([R])
Total Return Index, SandP MidCap 400([R]) Index (Price Only) and the SandP
MidCap 400([R]) Total Return Index 200-Index business day simple moving average.
This illustration does not re[]ect any historical Trendpilot Index performance.
SandP MidCap 400([R]) 1-Year Annual Return Comparison (%)(1)
2000 2001 2002
-------------------------------------- ----- ------ ------
SandP MidCap 400([R]) Total Return Index 17.51 -0.60 -14.51
SandP MidCap 400([R]) Index (Price Only) 16.21 -1.64 -15.44
Cash Rate (Year-End) 5.70 1.71 1.19
2007 2008 2009
-------------------------------------- ----- ------ ------
SandP MidCap 400([R]) Total Return Index 7.98 -36.23 37.38
SandP MidCap 400([R]) Index (Price Only) 6.69 -37.28 35.00
Cash Rate (Year-End) 3.31 0.05 0.11
2003 2004 2005 2006
----- ----- ----- -----
35.62 16.48 12.56 10.32
34.02 15.16 11.27 8.99
0.89 2.23 3.91 4.88
2010 2011 2012
----- ----- ----- -----
26.64 -1.73 17.88
24.85 -3.10 16.07
0.18 0.03 0.09
(1) The table above does not re[]ect any Trendpilot[] Index performance. The
Trendpilot[] Index performance is not the same as the SandP MidCap 400([R])
Index performance. The Trendpilot[] Index may underperform the SandP MidCap
400([R]) Index over various time periods, and may track the Cash Rate for
extended periods of time in a low interest rate envionment.
CERTAIN RISK CONSIDERATIONS: The RBS ETNs involve risks not associated with an
investment in conventional debt securities, including a possible loss of some or
all of your investment. The level of the Index must increase by an amount
suf[]cient to offset the aggregate investor fee applicable to the RBS ETNs in
order for you to receive at least the principal amount of your investment back
at maturity or upon early repurchase or redemption. The Index may underperform
the Benchmark Index, and is expected to perform poorly in volatile markets. Even
though the RBS ETNs are listed on the NYSE Arca, a trading market may not
develop and the liquidity of the RBS ETNs may be limited and/or vary over time,
as RBS plc is not required to maintain any listing of the RBS ETNs. The RBS ETNs
are not principal protected and do not pay interest. Any payment on the RBS ETNs
is subject to the ability of RBS plc, as the issuer, and RBS Group plc, as the
guarantor, to pay their respective obligations when they become due. You should
carefully consider whether the RBS ETNs are suited to your particular
circumstances before you decide to purchase them. We urge you to consult with
your investment, legal, accounting, tax and other advisors with respect to any
investment in the RBS ETNs.
The RBS ETNs are not suitable for all investors. You should carefully read the
relevant pricing supplement and prospectus, including the more detailed
explanation of the risks involved in any investment in the RBS ETNs as described
in the "Risk Factors" section of the pricing supplement, before investing.
IMPORTANT INFORMATION: The Royal Bank of Scotland plc (RBS plc) and The Royal
Bank of Scotland Group plc (RBS Group) have []led a registration statement
(including a prospectus) with the U.S. Securities and Exchange Commission (SEC)
for the offering of RBS ETNs to which this communication relates. Before you
invest in any RBS ETNs, you should read the prospectus in that registration
statement and other documents that have been []led by RBS plc and RBS Group with
the SEC for more complete information about RBS plc and RBS Group, and the
offering. You may get these documents for free by visiting EDGAR on the SEC's
web site at www.sec.gov. Alternatively, RBS plc, RBS Securities Inc. (RBSSI) or
any dealer participating in the offering will arrange to send you the prospectus
and the pricing supplement at no charge if you request it by calling
1-855-RBS-ETPS (toll-free).
US Mid Cap Trendpilot[] Index (USD) is the property of The Royal Bank of
Scotland plc, which has contracted with SandP Opco, LLC (a subsidiary of SandP
Dow Jones Indices LLC) ("SandP Dow Jones Indices") to maintain and calculate the
Index. The SandP MidCap 400([R]) Index is the exclusive property of SandP Dow
Jones Indices and have been licensed for use by RBSSI and its af[]liates in
connection with the RBS US Mid Cap Trendpilot[] Index (USD). SandP Dow Jones
Indices shall have no liability for any errors or omissions in calculating the
Index. SandP([R]) is a registered trademark of Standard and Poor's Financial
Services LLC ("SPFS") and Dow Jones([R]) is a registered trademark of Dow Jones
Trademark Holdings LLC ("Dow Jones"). These trademarks have been licensed to
SandP Dow Jones Indices. "Standard and Poor's([R])", "SandP([R])" and "SandP
MidCap 400([R])" are registered trademarks of SPFS and together with the
"Calculated by SandP Dow Jones Indices Custom" and its related stylized mark(s)
have been licensed for use by RBSSI and its CALCULATED BY af[]liates. The RBS US
Mid Cap Trendpilot[] ETNs are not sponsored, endorsed, sold or promoted by SandP
Dow Jones Indices, SPFS, Dow Jones, their af[]liates or their third party
licensors, and neither SandP Dow Jones Indices, SPFS, Dow Jones, their
af[]liates or their third party licensors make any representation regarding the
advisability of investing in such RBS ETNs.
Copyright [C] 2013 RBS Securities Inc. All rights reserved. RBS Securities Inc.,
a U.S. registered broker-dealer, member of FINRA and SIPC, is an indirect
wholly-owned subsidiary of The Royal Bank of Scotland plc.
www.rbs.com/etnUS | TOLL FREE: 855-RBS-ETPS | Not FDIC Insured. May Lose Value.
Dated January 15, 2013
|
