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Illustration of a $100,000 Investment in Each of the Three Underlying Indices
-- 7/31/2011 - 3/31/2013
[GRAPHIC OMITTED]
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Historical Performance (%) -- as of 3/31/2013
SINCE RBS ETN
1-MONTH 3-MONTH INCEPTION
(%) (%) (8/30/12) (%)
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RBS US Large Cap Alternator ETN[TM] 4.28 12.26 16.88
RBS US Large Cap Alternator
Index[TM] 4.38 12.52 17.56
S & P 500([R]) Total Return Index 3.75 10.61 13.61
S & P 500([R]) Low Volatility Total Return
Index 4.87 13.16 14.28
S & P 500([R]) Equal Weight Total Return
Index 4.38 12.52 19.23
The graph to the left does not reflect the performance of the RBS US Large Cap
Alternator Index[TM] or the RBS US Large Cap Alternator ETN[TM]. Index performance
returns do not reflect any fees or transaction costs. You can not invest
directly in an index.
Source for chart and graph: Bloomberg. All indices in the graph to the left are
based to $100,000 as of 7/31/2011.
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Annual Returns from March 2009 to March 2013 (%) -- as of 3/31/2013
INCEPTION DATE 2009 2010 2011 2012 2013
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S & P 500([R]) Total Return Index (SPTR) 05/1991 -38.09 49.77 15.65 8.54 13.96
S & P 500([R]) Low Volatility Total Return Index (SP5LVIT) 04/2011 -- -- -- 15.44 19.73
S & P 500([R]) Equal Weight Total Return Index (SPXEWTR) 01/2003 -40.42 75.08 20.97 4.89 17.54
Source: Bloomberg.
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Index Statistics -- as of 3/31/2013
S & P 500([R]) LOW
VOLATILITY S & P 500([R]) EQUAL
S & P 500([R]) TOTAL TOTAL RETURN WEIGHT TOTAL
RETURN INDEX INDEX RETURN INDEX
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Top 10 Holdings (%) 18.51% 13.23% 2.22%
Median Market
Capitalization $14.11 bn $19.29 bn $14.11 bn
Average Weighted
Market Capitalization $212.25 mil $468.57 mil $59.12 mil
Average Dividend 2.02 3.01 1.90
Yield(1) (%)
Average Price to Earnings(2) 23.56 20.19 23.56
Beta(3) 1.00 0.63 1.098
(1) Dividend Yield means the sum of the gross dividends paid on the stocks
comprising the Index (which is a total return index) over the prior 12 months
ending 3/31/2013 divided by the closing level of the price return version of the
Index as of 3/31/2013.
(2) A valuation of a company's current share price compared to its earnings per
share. Earnings per share is measured on a twelve month trailing basis.
(3) A number describing the volatility of an index in relation to the volatility
of the S & P 500([R]) that is calculated using trailing 12 month weekly returns.
Source: Bloomberg
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Sector Weightings Comparison(4) -- as of 3/31/2013
S & P 500([R]) LOW
VOLATILITY S & P 500([R]) EQUAL
S & P 500([R]) TOTAL TOTAL RETURN WEIGHT TOTAL
RETURN INDEX (%) INDEX (%) RETURN INDEX (%)
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Info Tech 18.02 Utilities 30.91 Cons Disc. 16.39
Financials 15.93 Cons. Staples 24.36 Financials 16.17
Health Care 12.53 Financials 15.18 Info Tech 13.86
Cons. Disc. 11.62 Health Care 8.76 Industrials 11.96
Cons. Staples 10.96 Industrials 8.15 Health Care 10.68
Energy 10.92 Info Tech 3.67 Cons. Staples 8.63
Telecom
Industrials 10.11 2.62 Energy 8.57
Services
Utilities 3.51 Materials 2.61 Utilities 6.33
Materials 3.43 Cons. Disc. 1.97 Materials 5.88
Telecom Telecom
2.97 Energy 1.77 1.57
Services Services
Total 100.00 Total 100.00 Total 100.00
(4) Based on standard industry classifications.
Source: S & P Dow Jones Indices
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
sufficient 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 S & P 500([R]) Index or any Underlying Index.
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, as
the guarantor, to pay their respective obligations when they become due. The
intraday indicative value and the daily redemption value are not the same as
the trading price or market price of the RBS ETNs in the secondary market. 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: RBS plc and RBS Group have filed 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 filed 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). The RBS US Large Cap Alternator Index[TM] (USD)
("Index") is the property of RBS plc (the "Index Sponsor"), which has contracted
with S & P Opco, LLC, a subsidiary of S & P Dow Jones Indices LLC ("S & P Dow
Jones Indices") to maintain and calculate the Index. The S & P 500([R]) Index, S
& P 500 Low Volatility Index([R]) and S & P 500([R]) Equal Weight Index[TM]
(including the total return versions) are the exclusive property of S & P Dow
Jones Indices and have been licensed for use by the Index Sponsor in connection
with the Index. S & P Dow Jones Indices, its affiliates and their third party
licensors shall have no liability for any errors or omissions in calculating the
Index. S & P([R]) is a registered trademark of Standard & 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 S &
P Dow Jones Indices. S & P([R]), S & P 500([R]), S & P 500 Low Volatility
Index([R]), S & P 500([R]) Equal Weight Index[TM] and S & P 500[R] EWI[TM] are
trademarks of SPFS and together with the "Calculated by S & P Dow Jones Indices
Custom" and its related stylized mark(s) have been licensed for use by the Index
Sponsor. 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.
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www.rbs.com/etnUS | TOLL FREE: 855-RBS-ETPS | Not FDIC Insured. May Lose Value. Dated April 17, 2013
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