STAMFORD, Conn., June 22, 2015 /PRNewswire/ -- The Royal Bank of Scotland plc ("RBS plc") announced today that it has elected to redeem the following exchange traded notes (the "ETNs") on or about July 7, 2015:
- RBS Global Big Pharma Exchange Traded Notes (ticker: DRGS)
- RBS US Large Cap Alternator Exchange Traded Notes™ (ticker: ALTL)
- RBS China Trendpilot™ Exchange Traded Notes (ticker: TCHI)
- RBS Gold Trendpilot™ Exchange Traded Notes (ticker: TBAR)
- RBS NASDAQ-100® Trendpilot™ Exchange Traded Notes (ticker: TNDQ)
- RBS Oil Trendpilot™ Exchange Traded Notes (ticker: TWTI)
- RBS US Large Cap Trendpilot™ Exchange Traded Notes (ticker: TRND)
- RBS US Mid Cap Trendpilot™ Exchange Traded Notes (ticker: TRNM)
- RBS Rogers Enhanced Commodity Index Exchange Traded Notes (ticker: RGRC)
- RBS Rogers Enhanced Agriculture Exchange Traded Notes (ticker: RGRA)
- RBS Rogers Enhanced Energy Exchange Traded Notes (ticker: RGRE)
- RBS Rogers Enhanced Precious Metals Exchange Traded Notes (ticker: RGRP)
- RBS Rogers Enhanced Industrial Metals Exchange Traded Notes (ticker: RGRI)
As described in the related pricing supplement for each ETN, RBS plc, as Issuer of the ETNs, may redeem the ETNs in whole, but not in part, at its sole discretion prior to maturity.
RBS plc previously disclosed in the related pricing supplement for each ETN its expectation that it would redeem the ETNs. The expected redemption is a consequence of RBS plc's exit of the structured retail investor products business.
RBS plc expects to provide notice of redemption to the trustee and to the holders of the ETNs via The Depository Trust Company on June 29, 2015. The daily redemption value of each ETN will be determined on its applicable valuation date. Payment of the daily redemption value of each ETN is expected to be made on the sixth business day following the date of the notice of redemption, which is expected to be July 7, 2015. Accordingly, the last day of trading for each ETN is expected to be July 6, 2015.
Daily creations of each of the ETNs are suspended, effective immediately. Repurchases at the option of investors will be accepted in the normal manner up to and including June 29, 2015.
Media Enquiries:
Mike Geller
Edelman
+1 212 729 2163
[email protected]
RBS Corporate & Institutional Banking (CIB)
RBS Corporate & Institutional Banking (CIB) is the wholesale banking arm of The Royal Bank of Scotland Group. Through its physical presence in all major business markets and financial hubs, CIB delivers market-leading services in debt financing, risk management and transaction services.
Copyright © 2015 RBS Securities Inc. All rights reserved. RBS Securities Inc., a U.S. registered broker-dealer, member of FINRA (http://www.finra.org) and SIPC (http://www.sipc.org), is an indirect wholly-owned subsidiary of The Royal Bank of Scotland plc. RBS is the marketing name for the securities business of RBS Securities Inc.
SOURCE The Royal Bank of Scotland plc
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