|
|
Historical Performance (%) -- as of 6/30/2013
QUARTER-TO- Year-to- ANNUALIZED ANNUALIZED ANNUALIZED annualized since RBS ETN
DATE (%) date (%) 1-Year (%) 3-Year (%) 5-Year (%) inception (2/17/11) (%)
---- ----------- -------- ---------- ---------- ---------- -------------------------
RBS Gold Trendpilot[] -0.11 -3.29 -3.15 -- -- 4.96
ETN DailyRedemption Value(1)
RBS Gold Trendpilot[] Index 0.01 -2.98 -2.43 -- -- 5.83
Price of Gold Bullion -25.42 -28.08 -25.43 -1.41 5.08 -5.98
Cash rate on 6/30/13 was 0.06% -- -- -- -- -- --
Source: Bloomberg. The table above presents the actual performance of the
Index, the RBS ETNs and the Price of Gold Bullion over the specified 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-16 of the pricing
supplement to the RBS ETNs filed 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 Price of Gold Bullion, and (ii) 0.50% per annum when the
Index is tracking the Cash Rate.
Gold Bullion Performance -- as of 6/30/2013
Price of Gold Bullion
Price of Gold Bullion 200-Index business day simple moving average
The graph to the left is the historical performance of the Price of Gold
Bullion and its 200-Index business day simple moving average. This illustration
does not reflect any historical Trendpilot[] Index performance.
1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989
--------------------- ----- ----- ------ ----- ------ ----- ------ ------ ----- ----- ------- ------ -----
Price of Gold Bullion 22.64 37.01 126.55 15.19 -32.60 14.94 -16.31 -19.38 6.00 18.96 24.53 -15.26 -2.84
Cash Rate (Year-End) 6.15 9.34 12.07 14.99 11.04 7.98 8.94 7.75 7.02 5.49 5.96 8.22 7.77
1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002
--------------------- ----- ----- ------ ----- ------ ----- ------ ------ ----- ----- ------- ------ -----
Price of Gold Bullion -3.11 -8.56 -5.73 17.68 -2.17 0.98 -4.59 -21.41 -0.83 0.85 -5.44 0.75 25.57
Cash Rate (Year-End) 6.53 3.91 3.24 3.06 5.57 4.91 5.08 5.43 4.52 5.30 5.70 1.71 1.19
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Q2
--------------------- ----- ----- ------ ----- ------ ----- ------ ------ ----- ----- ------- ------ -----
Price of Gold Bullion 19.89 4.65 17.77 23.20 31.92 4.32 25.04 29.24 8.93 8.26 -28.08
Cash Rate (Year-End) 0.89 2.23 3.91 4.88 3.31 0.05 0.11 0.18 0.03 0.09 0.06
The table above does not reflect any Trendpilot[] Index performance. The Trendpilot[] Index performance is not the same as the
performance of the Price of Gold Bullion.
The Trendpilot[] Index may underperform the Price of Gold Bullion over various time periods, and may track the Cash Rate for
extended periods of time in a low interest rate
environment.
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 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.
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).RECENT DEVELOPMENTS: On June 13, 2013, we announced that we
would be exiting the structured retail
investor products business that is responsible for issuing and maintaining the RBS ETNs, and that we expect to move such business
into a runoff organization which will go through
a process of restructuring and / or business sales (the "RBS Retail Investor Products Exit Plan"). The implementation of the RBS
Retail Investor Products Exit Plan increases the
likelihood that the RBS ETNs will be redeemed by us prior to maturity. We plan to continue to maintain and issue the RBS ETNs, but
our plans could change. We cannot give you any
assurances as to any minimum period of time that you may hold the RBS ETNs before we redeem them at our option.
RBS Gold 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. 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 CALCULATED BY
Indices Custom" and its related stylized mark(s) have been licensed for use by RBSSI and its affiliates. The RBS Gold Trendpilot[]
ETNs are
not sponsored, endorsed, sold or promoted by SandP Dow Jones Indices, SPFS, Dow Jones, their affiliates or their third party
licensors, and nei-
ther 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.
www.rbs.com/etnUS | TOLL FREE: 855-RBS-ETPS | Not FDIC Insured. May Lose Value.
Dated July 16, 2013
|
