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RBS to price capped enhanced participation notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 1 - Royal Bank of Scotland plc plans to price 0% capped enhanced participation notes with fixed buffer due Sept. 3, 2013 linked to the S&P 500 index, according to a 424B5 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 200% of any increase in the index level, subject to a maximum return of 15% to 17% that will be set at pricing. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.
The notes (Cusip: 78009PBL4) are expected to price Aug. 26 and settle Aug. 31.
RBS Securities Inc. is the underwriter.
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