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(1)Two days refer to Friday April 12th, 2013 and Monday April 18th, 2013.
(2)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
RBS Gold Trendpilot[TM] Index is tracking the Price of Gold Bullion, and (ii)
0.50% per annum when the RBS Gold Trendpilot[TM] Index is tracking the Cash
Rate.
FOR REGISTERED BROKER/DEALERS AND REGISTERED INVESTMENT ADVISERS ONLY. NOT FOR
DISTRIBUTION TO INDIVIDUAL INVESTORS.
CERTAIN RISK CONSIDERATIONS: The RBS Gold Trendpilot[TM] ETNs (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
RBS Gold Trendpilot[TM] Index (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 Price of Gold Bullion, 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. 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. 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 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).
RBS Gold Trendpilot[TM] 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. 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])" and "SandP([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 affiliates. The RBS Gold
Trendpilot[TM] ETNs are not sponsored, endorsed, sold or promoted by SandP Dow
Jones Indices, SPFS, Dow Jones, their affiliates or their third party licensors,
and neither SandP Dow Jones Indices, SPFS, Dow Jones, their affiliates 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.
The Royal Bank of Scotland [C] 2013 rbs.com/etnus | rbs.com
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