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Illustration of a $10,000 Investment in Each of the Below-Listed Indices --
10/31/07-3/31/13
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[GRAPHIC OMITTED]
Returns are for illustrative purposes only and do not represent actual RBS ETN
performance. Index performance returns do not reflect any annual investor fee
or transaction cost. Past performance is not indicative of future results. You
can not invest directly in any index. Source: Bloomberg. All indices are based
to $10,000 as of 10/31/2007.
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Top 10 Sub-Index Holdings -- as of 3/31/13
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COMPANY (%) (%)
------------- ------- -------
Crude Oil 13.00 13.85
Brent Crude 10.00 10.61
Natural Gas 7.00 7.61
Corn 7.00 6.37
RBOB Gasoline 4.00 4.58
Heating Oil 4.00 4.06
Copper 4.00 3.87
Gold 4.00 3.72
Aluminum 4.00 3.70
Gas Oil 3.00 3.08
The Index is rebalanced back to its target weightings in April and October.
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Sector Commodity Weightings -- as of 3/31/13
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[GRAPHIC OMITTED]
Source: RBS, Bloomberg, Deutsche Bank, March 2013
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 RBS ETNs and the Index
do not provide exposure to spot prices of the relevant commodities and,
consequently, may not be representative of an investment that provides exposure
to the spot prices of the relevant commodities or buying and holding the
relevant commodities. The prices of commodities are volatile and are affected
by numerous factors. The Index may include futures contracts on non-U.S.
exchanges and trading on such exchanges may be subject to different and greater
risks than trading on U.S. exchanges. 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, 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: 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 ETNs are not sponsored, endorsed, sold or promoted by Beeland Interests
Inc. ("Beeland Interests"), James B. Rogers, Jr. or Diapason Commodities
Management SA ("Diapason").
Neither Beeland Interests, James B. Rogers, Jr. nor Diapason makes any
representation or warranty, express or implied, nor accepts any responsibility,
regarding the accuracy or completeness of this document, or the advisability of
investing in securities or commodities generally, or in the RBS ETNs or in
futures particularly. "Jim Rogers", "James Beeland Rogers, Jr.", "Rogers",
"Rogers International Commodity Index", "RICI", "RICI Enhanced", and the names
of all other RICI Enhanced(SM) Indices mentioned herein are trademarks, service
marks and/or registered marks of Beeland Interests, Inc., which is owned and
controlled by James Beeland Rogers, Jr., and are used subject to license.
The personal names and likeness of Jim Rogers/James Beeland Rogers, Jr. are
owned and licensed by James Beeland Rogers, Jr. NEITHER BEELAND INTERESTS NOR
DIAPASON, NOR ANY OF THEIR RESPECTIVE AFFILIATES OR AGENTS, GUARANTEES THE
ACCURACY AND/OR THE COMPLETENESS OF THE ROGERS INTERNATIONAL COMMODITY INDEX
("RICI"), THE RICI ENHANCED, ANY SUB-INDEX THEREOF, OR ANY DATA INCLUDED
THEREIN.
SUCH PERSON SHALL NOT HAVE ANY LIABILITY FOR ANY ERRORS, OMISSIONS, OR
INTERRUPTIONS THEREIN AND MAKES NO WARRANTY, EXPRESS OR IMPLIED, AS TO RESULTS
TO BE OBTAINED BY OWNERS OF THE RBS ETNS, OR ANY OTHER PERSON OR ENTITY FROM THE
USE OF THE RICI, THE RICI ENHANCED, ANY SUB-INDEX THEREOF, ANY DATA INCLUDED
THEREIN OR THE RBS ETNS.
NEITHER BEELAND INTERESTS NOR DIAPASON, NOR ANY OF THEIR RESPECTIVE AFFILIATES
OR AGENTS, MAKES ANY EXPRESS OR IMPLIED WARRANTIES, AND EACH EXPRESSLY
DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
OR USE WITH RESPECT TO THE RICI, THE RICI ENHANCED, ANY SUB INDEX THEREOF, OR
ANY DATA INCLUDED THEREIN.
WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL BEELAND INTERESTS,
DIAPASON OR ANY OF THEIR RESPECTIVE AFFILIATES OR AGENTS HAVE ANY LIABILITY FOR
ANY LOST PROFITS OR INDIRECT, PUNITIVE, SPECIAL, OR CONSEQUENTIAL DAMAGES OR
LOSSES, EVEN IF NOTIFIED OF THE POSSIBILITY THEREOF. NEITHER THE INDICATION THAT
SECURITIES OR OTHER FINANCIAL PRODUCTS OFFERED HEREIN ARE BASED ON DATA PROVIDED
BY ICE DATA LLP, NOR THE USE OF THE TRADEMARKS OF ICE DATA LLP IN CONNECTION
WITH SECURITIES OR OTHER FINANCIAL PRODUCTS DERIVED FROM SUCH DATA IN ANY WAY
SUGGESTS OR IMPLIES A REPRESENTATION OR OPINION BY ICE DATA OR ANY OF ITS
AFFILIATES AS TO THE ATTRACTIVENESS OF INVESTMENT IN ANY SECURITIES OR OTHER
FINANCIAL PRODUCTS BASED UPON OR DERIVED FROM SUCH DATA. ICE DATA IS NOT THE
ISSUER OF ANY SUCH SECURITIES OR OTHER FINANCIAL PRODUCTS AND MAKES NO EXPRESS
OR IMPLIED WARRANTIES WHATSOEVER, INCLUDING BUT NOT LIMITED TO, WARRANTIES OF
MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE WITH RESPECT TO SUCH DATA
INCLUDED OR REFLECTED THEREIN, NOR AS TO RESULTS TO BE OBTAINED BY ANY PERSON OR
ANY ENTITY FROM THE USE OF THE DATA INCLUDED OR REFLECTED THEREIN.
The Index is calculated by NYSE Arca, Inc. ("NYSE Arca"), a wholly-owned
subsidiary of NYSE Euronext. The RBS ETNs, which are based on the Index, are
not issued, sponsored, endorsed, sold or promoted by NYSE Arca, and NYSE Arca
makes no representation regarding the advisability of investing in such
product.
NYSE ARCA MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY
DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE
WITH RESPECT TO THE INDEX OR ANY DATA INCLUDED THEREIN. IN NO EVENT SHALL NYSE
ARCA 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 April 12, 2013
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