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Historical Performance (%) -- as of 12/31/12
RBS ETN
INCEPTION
3-MONTH
(10/21/11) (%) (%)
---------------------------------------------------------------------- ---------
---------------
RBS Global Big Pharma ETN Daily Redemption Value(1) 0.15
19.08
NYSE Arca Equal Weighted Pharmaceutical Total Return Index(SM) 0.31
19.94
NYSE Arca Equal Weighted Pharmaceutical Index(SM) (Price Return Index) 0.01
17.03
SandP 500([R]) Index (Price Return) -1.01
15.18
SINCE
YEAR-TO- ANNUALIZED ANNUALIZED ANNUALIZED
DATE (%) 1-YEAR (%) 3-YEAR (%) 5-YEAR (%)
-------- ----------- ---------- -----------
12.33 12.33 -- --
13.01 13.01 10.08 6.98
10.63 10.63 7.45 4.33
13.41 13.41 8.55 -0.58
Source: Bloomberg. The table above presents the actual historical performance of
the RBS ETNs, the Index, the NYSE Arca Equal Weighted Pharmaceutical Index(SM)
(the "Price Return Index") and the SandP 500([R]) Index (Price Return) over the
speci[]ed periods. The only difference between the Index and the Price Return
Index is that the level of the Index incorporates the cash dividends paid on the
Index components, while the Price Return Index does not. It is not possible to
invest directly in an index. For information regarding the performance of the
Index, see pages 14 to 16 of the pricing supplement of the RBS ETNs []led with
the U.S. Securites and Exchange Commisson (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 0.60% per annum.
Country Breakdown -- as of 12/31/12
[GRAPHIC OMITTED]
COUNTRY COMPANIES
-------------- ---------
United States 8
United Kingdom 3
Switzerland 1
Denmark 1
France 1
Israel 1
Canada 1
Source: Bloomberg. The chart and table above present the country of
incorporation of the companies which equity securities comprise the NYSE Arca
Equal Weighted Pharmaceutical Index(SM) (the "Price Return Index"). The Index
and the Price Return Index have identical components.
Historical Dividend Yield -- as of 12/31/12
DIVIDEND YIELD DIVIDEND YIELD
YEAR NYSE PHARMA INDEX (%) SandP 500([R]) INDEX (%)
---- --------------------- ----------------------
2003 1.71 1.56
2004 1.83 1.65
2005 2.05 1.80
2006 2.08 1.77
2007 2.31 2.01
2008 3.37 3.15
2009 2.87 2.12
2010 3.25 1.88
2011 2.94 2.11
2012 2.91 2.24
Source: Bloomberg. The table above presents the actual historical Dividend Yield
calculated based on the cash dividends paid on the component securities of the
NYSE Arca Equal Weighted Pharmaceutical Index(SM) (Price Return) and the SandP
500([R]) Index (Price Return) over the prior 12 months ending on the last
trading day of March. Unlike total return indices, the levels of price return
indices do not incorporate any cash dividends paid on their index components.
See "Certain Key Terms" below for the calculation of the Dividend Yield.
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
suf[]cient 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 comprises
securities of a limited number of companies concentrated in the pharmaceuticals
industry, and may not be representative of an investment that provides exposure
to the pharmaceutical industry as a whole. 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. 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.
CERTAIN KEY TERMS: The P/E Ratio, P/B Ratio and Dividend Yield information are
sourced from Bloomberg. P/E Ratio is derived by dividing the closing level of
the Price Return Index as of the speci[]ed date by the sum of the trailing
12-month earnings per share of the securities comprising the Price Return Index.
P/B Ratio is derived by dividing the closing level of the Price Return Index as
of the speci[]ed date by the sum of the book value per share of the securities
comprising the Price Return Index as of that date. Dividend Yield means the sum
of the gross dividends paid on the securities comprising the Price Return Index
over the prior 12 months divided by the closing level of the Price Return Index
as of the speci[]ed date; however, unlike the Index (which is a total return
index), the level of the Price Return Index does not incorporate cash dividends
paid on its components.
IMPORTANT INFORMATION: RBS plc and RBS Group have []led 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 []led 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 NYSE Arca Equal Weighted Pharmaceutical Index(SM)[]and the NYSE Arca Equal
Weighted Pharmaceutical Total Return Index(SM)[]are service marks[]of NYSE
Euronext or its af[]liates (NYSE Euronext) and have been licensed for use by The
Royal Bank of Scotland plc and RBS Securities, Inc. (Licensees) in connection
with[]the RBS ETNS. Neither the Licensees nor the RBS ETNs is sponsored,
endorsed, sold or promoted by NYSE Euronext. NYSE Euronext makes no
representations or warranties regarding the[]RBS ETNs or the ability of the NYSE
Arca Equal Weighted Pharmaceutical Index(SM)[]or the[]NYSE Arca Equal Weighted
Pharmaceutical Total Return Index(SM) to track general stock market performance.
NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY
DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
WITH RESPECT TO THE NYSE ARCA EQUAL WEIGHTED PHARMACEUTICAL INDEX(SM)[]OR THE
NYSE ARCA EQUAL WEIGHTED PHARMACEUTICAL TOTAL RETURN INDEX(SM)[]OR ANY DATA
INCLUDED THEREIN. IN NO EVENT SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY
SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS),
EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES. 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 January 15, 2013
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