Terms and Conditions of Use of The Royal Bank of Scotland
plc's Structured Investor Products Internet Web Site
Royal Bank of Scotland plc, is a member of The Royal Bank of Scotland Group
(the RBS Group). For information about our Group of companies please
visit www.rbs.com and click on 'About Us', or for similar enquiries please
telephone 0131 556 8555 or Textphone 0845 900 5960.
website is owned and maintained by The Royal Bank of Scotland plc (RBS).
The use of this website is subject to the following terms and conditions (the Terms)
which you should read carefully. Access to this website is only granted to users who have
read these Terms and acknowledge that they are an Institutional Investor and are not a US
resident or person. By clicking the acceptance button, you agree to be legally bound by
these Terms. If you do not accept these Terms, you will not be permitted to use this
This website contains products that are issued by RBS, which is both issuer and promoter of products, and products that are issued by The Royal Bank of Scotland N.V., which are promoted by RBS. The Royal Bank of Scotland plc is an authorised agent of The Royal Bank of Scotland N.V. (RBS N.V.) in certain jurisdictions.
Royal Bank of Scotland plc is an authorised agent of The Royal Bank of Scotland
N.V. (RBS N.V.) in certain jurisdictions.
Use of website
The information provided on this website or in any communication containing a
link to this site is for personal use and informational purposes only and the
contents have not been prepared with any specific investment objective,
financial situation or particular need of any specific recipient in mind. The
information provided on this website is not intended for distribution to, or
use by, any person or entity in any jurisdiction in any country where such distribution
or use would be contrary to law or regulation or which would subject any member
of the RBS Group to any registration requirement within such jurisdiction or
country. Where any opinions are expressed on this website, they are provided by
the RBS Group for personal use and for informational purposes only.
The distribution of material on this website may be restricted by the laws or
regulations of the country from which you are accessing this website. Where
such restrictions exist persons accessing this website must inform themselves
about, and observe, any such restrictions.
The services, products and securities referred to on this website are intended
for use by residents of the country specified on the relevant product page as
being the jurisdiction in which such services, products and securities are
being offered, and are not aimed at or intended for use by residents of any
other jurisdiction. Residents of other jurisdictions should not act on anything
in this website. In particular, but without limitation, the services, products
and securities referred to on this website are not being offered and are not
otherwise available in the United States of America or to U.S. persons.
Information on this website may constitute a financial promotion or marketing
communication. Where any information on this website constitutes a financial
promotion or marketing communication, such information is issued and approved
for distribution and use in the European Union by The Royal Bank of Scotland
plc. Where any information on this website relates to securities, you should
note that that information is marketing information only and is not intended to
be, nor is it, an offer for sale or subscription of those securities.
Notwithstanding Clause 8, if information relating to an offer is included on
this website, the website will normally contain the relevant prospectus or
other offering documents setting out the terms of the offer and the securities
or links to and/or other information where the copy of the prospectus or other
offering documents is made available.
This website is designed to be accessed through its principal home pages and
such other pages as we may decide. If you access the site through individual
pages directly, which are not designed for this purpose, you may not see
important information which is relevant to information on this website. You
will be referred on certain site pages to read "Legal information".
This Important Information will contain important details and relevant legal or
regulatory information and should be read in conjunction with the relevant site
Exclusion of liability
These 'Exclusion of Liability' provisions should be read carefully as they
exclude or limit our legal liability in connection with your use of this website.
Nothing in these Terms and in particular within the 'Exclusion of Liability'
clauses shall attempt to exclude liability to the extent it is not permissible
under applicable law, including without limitation, for death or personal
injury, or for fraudulent misrepresentation.
Nothing in these Terms shall exclude, limit or restrict our duties and
liabilities to you under the regulatory system under the United Kingdom’s
Financial Services and Markets Act 2000, or, to the extent we may not exclude,
limit or restrict such duties under applicable law or regulation.
We have taken reasonable steps to ensure the accuracy and completeness of the
content of the website, including the opinions, charts, indicative rates,
calculation tools and reports contained in it. This information has been
compiled or arrived at by RBS from sources we believe to be reliable. However,
as RBS will not always control these sources of information, we cannot
guarantee their accuracy, completeness, currency, or quality as well as the
availability at any time of the data and other information provided on the
website. Any views, statements or representations provided for on this website
do not necessarily reflect the opinion of the RBS Group. Any price information
is indicative and may be presented temporally delayed. We exclude any
warranties, undertakings or representations (either express or implied) to the
fullest extent permitted under applicable law, that the website, including,
without limitation, the functions contained in it, will be updated, the access
to it uninterrupted or error-free, that defects will be corrected, or that all
or any part of the content or materials or the accuracy, availability or
completeness of the content of the website or any part of the content or
materials are appropriate or available for use in any jurisdiction. If you use
this website from other jurisdictions, you are responsible for complying with
applicable local laws. We may discontinue production or updating of the website
or any part of it without notice.
We accept no liability in contract, tort, negligence, statutory duty or
otherwise (to the maximum extent permitted by applicable law) arising out of
the use of or access to this website, which includes, without limitation, any
errors or omissions contained in it or if the website is unavailable, the act
or omission of any other party involved in making this website or the data
contained therein available to you, or any other cause relating to your access
to, inability to access, or use of the website (including interruptions,
deletion of files, viruses, errors, defects, or any failure of performance,
communications failure, theft, destruction or unauthorised access), whether or
not the circumstances giving rise to such cause may have been within the
control of the RBS Group or of any vendor providing software or services
support. We shall not be liable for any direct or indirect:
losses (including without limitation loss of revenues, data, profits,
contracts, use, opportunity, business or anticipated savings);
of goodwill or reputation;
incidental, consequential loss or damage,
or incurred or arising out of or in connection with your use of this website
and these Terms, even if a member of the RBS Group or any other party has been
advised of the possibility thereof.
Access to and use of this website is at the user's own risk and we do not
warrant that the use of this website or any material downloaded from it will
not cause damage to any property, or otherwise minimise or eliminate the risks
associated with the internet including, but not limited to, loss of data,
computer virus infection, spyware, malicious software, trojans and worms. Also,
we accept no liability in respect of losses or damages arising out of changes
made to the content of this website by unauthorised third parties.
To provide increased value to users of this website, we may provide links to
other websites or resources (that are not part of the RBS Group) for you to
access at your sole discretion. From time to time there may also be such other
websites or resources (that are not part of the RBS Group) which contain links
to this website with or without our permission. You acknowledge and agree that,
as you have chosen to enter the linked or linking website we are not
responsible for the availability of such external sites or resources and that
such external sites or resources are not being made available on our behalf by
the relevant provider (whether or not we have agreed to the existence of such
links to our website), and that we do not review or endorse and shall not be
responsible or liable, directly or indirectly, for (i) the privacy practices of
such websites, (ii) the content of such websites, including (without
limitation) any advertising, content, products, goods or other materials or
services on or available from such websites or resources or (iii) the use that
others make of these websites or resources, nor for any damage, loss or offence
caused or alleged to be caused by, or in connection with, the use of or
reliance on any such advertising, content, products, goods or other materials
or services available on such external websites or resources.
The above limitation or exclusion may not apply to you to the extent that applicable
law may not allow the limitation or exclusion of liability for incidental or
We may use and share your information with other members of the RBS Group
worldwide to help us and them:
financial and insurance risks;
customer relationships, services and systems;
and detect crime;
information includes information about your transactions.
may also disclose your information to third parties outside the RBS Group in certain
circumstances, such as:
we have your permission; or
we are required or permitted to do so by law; or
other companies who provide a service to us or you where we may transfer
rights and obligations under this agreement
you would like a copy of the information we hold about you, please write to:
The Royal Bank of Scotland plc, 36 St Andrew Square, Edinburgh, EH2 2YB. A fee
may be payable.
All intellectual property rights in any part of the world which subsist in the
contents of this website and which belong to The Royal Bank of Scotland Group
plc, or another member of the RBS Group and/or RBS N.V. are, save as expressly
granted, hereby reserved.
The contents of this website are protected by copyright. Except as expressly
granted, these copyrights belong to The Royal Bank of Scotland Group plc or
another member of the RBS Group and are protected with effect from 2008.
Reproduction in any form of any part of the contents of this website without our
prior written consent is prohibited, except for single copies of extracts
solely for personal non-commercial purposes.
This website contains numerous registered and unregistered trade marks
belonging to The Royal Bank of Scotland Group plc and other companies in the
RBS Group and or RBS N.V.. These trade marks include, but are not limited to,
‘The Royal Bank of Scotland’ logo, ‘The Royal Bank of Scotland’, and ‘RBS’. If
you are in doubt as to whether an item is a trade mark of The Royal Bank of
Scotland Group plc or a member of the RBS Group, please contact us for
clarification at the registered office address below.
The contents of this website are not intended to, nor do they, provide any
financial, investment or professional advice and nothing on the pages of this
website shall be regarded as an offer or provision of financial, investment or
other professional advice in any way. Access to the website or the retrieval of
any information set out on the website by a user does not mean that the user
becomes a client of any member of the RBS Group. In particular, you should
obtain advice from a qualified expert before making any investment decision.
RBS, RBS N.V. or any affiliate may purchase or sell financial instruments or hold
positions (long or short) which relate to or are derived from the products
described herein. This may affect the value of the products. The website does
not take into account individual investment objectives, the financial situation
or particular needs of any individual users. The securities and financial
instruments described on this website may not be suitable as an investment
instrument for every user. Further, the purchase of these instruments may
entail risk. Information regarding the performance of a security or financial
instrument or of an underlying always relates to the past. Any historic price
development in respect of a security or financial instrument or of an
underlying does not in any way provide a basis for the projection of the future
performance and does not in any way constitute a guarantee of their future
performance and price development.
The values and prices set out on this website in relation to a particular
security or financial instrument or of an underlying may not reflect the value
or price available in the respective market at the time a user intends to
purchase or sell a particular security or currency. Values and prices set out
on this website do not take into account the size of a transaction.
Consequently, the size of an ascertained transaction may result in differing
values and prices.
RBS and RBS N.V. do not in any way provide any guarantee, recommendation,
representation or warranty regarding a) the suitability of the securities or
other financial instruments presented on the website for the investor; b) the
accounting or fiscal consequences of an investment in the presented securities
or financial instruments; c) the future performance of any underlyings,
securities or financial instruments as well as d) the notification of limits to
the users of the website in a timely and accurate manner.
Investors should consider all risks carefully prior to investing in any
securities or financial instruments and should consult (as necessary) any
independent financial advisers and legal, accounting, tax and other advisers
with respect to any investment in the securities.
Access to the website or the retrieval of any information set out on the
website by a user does not mean that the user becomes a client of either RBS or
RBS N.V.. Further, RBS and RBS N.V. have no obligations or responsibilities
towards any users of the website, in particular no information provision
agreement will be concluded between either RBS or RBS N.V. and the user.
RBS is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. RBS is
entered in the FSA's Register and its Register number is 121882. The FSA's
Register can be accessed at http://www.fsa.gov.uk/pages/register/. The Bank's registered VAT number
is GB 243852752. We may be contacted by email at the following address firstname.lastname@example.org.
Changes to website
change by us without notification and the RBS Group shall not be obliged to
remove any outdated information from the website or to expressly mark it as
being outdated. You are reminded that the contents of this website should not
be relied upon as up to date or current and should not be used in substitution
for the exercise of independent judgement. You should read and consider
carefully any disclosures or disclaimers made within this website.
You, and any person connected to or representing you, accept that all
communications (including telephone conversations) between us may be recorded
by us. Such recording will be our sole property, and will in the absence of
manifest error be conclusive evidence of the communications recorded and may be
used as evidence in event of a dispute. If you have made similar recordings
they will be accorded similar status.
In order to maintain the security of its systems, protect its staff and detect
fraud and other crimes, the RBS Group reserves the right to monitor all
internet communications, including web and email traffic, into and out of its
domains. Monitoring includes checks for, but not limited to; viruses and other
malignant code, criminal activity, and use or content which is unauthorised as
being in breach of the RBS Group Dignity at Work and Information Security
A 'cookie' is information that a website stores on your computer so that it can
remember something about you at a later time. Cookies are commonly used on the
Internet and do not harm your computer. The cookies on this website are used in
conjunction with SSL for the purpose of authentication and authorisation.
Cookies are also used to record the user's access configuration and preferences
and to act as a flag to help us recognise when we have already asked you to
participate in any on-line market research and to prevent you from being asked
to complete the same questionnaire every time that you visit this website. They
do not include any personal information that others could read and understand
about you, such as your name or account numbers. If you do not want us to use
cookies when you visit this website, you can configure your browser not to
accept them or opt-out. Please refer to your browser's help facility for
operation of this website, and that opting out or refusal to accept cookies may
affect its operation.
Persons accessing this website from Australia should note that their access to,
and use of, the information, services and products on this website may be
prohibited under the Australian Corporations Act 2001 or authorised under RBS'
Australian Financial Services Licence. Nothing contained in this website should
be interpreted as an authorisation to access or use the information, services
or products on this website in Australia where such prohibition apply.
UNDER NO CIRCUMSTANCES SHALL THE INFORMATION ON THE WEBSITE CONSTITUTE AN OFFER
TO SELL OR THE SOLICITATION OF AN OFFER TO BUY NOR SHALL THERE BE ANY SALE OF THESE SECURITIES IN THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH
OFFER, SOLICITATION OR SALE WOULD BE UNLAWFUL. IN PARTICULAR THE SECURITIES HAVE
NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS
AMENDED (THE SECURITIES ACT), OR THE SECURITIES LAWS OF ANY STATE OF THE U.S.
OR OTHER JURISDICTION AND THE SECURITIES MAY NOT BE OFFERED OR SOLD WITHIN THE
U.S. OR TO, OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS (AS DEFINED IN
REGULATION S UNDER THE SECURITIES ACT), EXCEPT PURSUANT TO AN EXEMPTION FROM,
OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND APPLICABLE STATE OR LOCAL SECURITIES LAWS.
THE INFORMATION CONTAINED ON THE WEBSITE MAY NOT BE FORWARDED OR DISTRIBUTED TO
ANY OTHER PERSON AND MAY NOT BE REPRODUCED IN ANY MANNER WHATSOEVER, AND IN
PARTICULAR, MAY NOT BE FORWARDED TO ANY U.S. PERSON OR TO ANY U.S. ADDRESS. ANY
FORWARDING, DISTRIBUTION OR REPRODUCTION OF SUCH INFORMATION IN WHOLE OR IN
PART IS UNAUTHORISED. FAILURE TO COMPLY WITH THIS DIRECTIVE MAY RESULT IN A
VIOLATION OF THE SECURITIES ACT OR THE APPLICABLE LAWS OF OTHER JURISDICTIONS.
By clicking “I accept” below and accessing the information on the website, you
shall be deemed to have represented to us that you are not a U.S. person and
that you are not located in the U.S., its territories and possessions
(including Puerto Rico, the U.S. Virgin Islands, Guam, American Samoa, Wake
Island and the Northern Mariana Islands), any State of the United States or the
District of Columbia and that you are otherwise authorised to receive the
information referred to on the website.
The information on the website is presented, or otherwise approved for the
purposes of section 21 of the Financial Services and Markets Act 2000 (FSMA),
The FSA’s website www.fsa.gov.uk contains a wide range of information of
specific relevance to investors and potential investors resident in the United
Kingdom and provides access to the FSA register. Other entities referred to on
this website may not be regulated by the FSA and may not have a place of
business or provide services in the United Kingdom. As against such entities
the regulatory regime governing an investor’s rights may be different to that
of the United Kingdom. Investors and potential investors may, however, be
entitled to similar protection in the jurisdiction in which the relevant entity
is organised or resident.
Other Important Information
The information, and any opinion contained in this website does not constitute
a public offer under any applicable legislation or an offer to sell or
solicitation or an offer to buy any securities or financial instruments or any
advice or recommendation with respect to such securities or other financial
instruments, or a representation that any investment strategy or security is
suitable for you. The information contained on the website may constitute the judgement
of certain individuals.
This website contains certain "forward looking statements" which can
be identified by the use of forward-looking terminology such as
"expect", "estimate", "project",
"anticipate", "should", "intend",
"plan", "probability", "target",
"goal", "objective", "will",
"endeavour", "outlook", "optimistic",
"prospects" and similar expressions or variations on such
Factors that could cause actual results to differ materially from those
estimated by the forward-looking statements contained in this website include,
but are not limited to, general economic conditions in the UK and in other
countries in which the RBS Group has significant business activities or
investments, including in the United States; the monetary and interest rate
policies of the Bank of England, the Board of Governors of the Federal Reserve
System and other G-7 central banks; unanticipated turbulence in interest rates,
foreign currency exchange rates, commodity prices or equity prices; changes in
UK or foreign laws, regulations or taxes; changes in competition or pricing
environments; natural and other disasters; the inability to hedge certain risks
economically; the adequacy of loss reserves; acquisitions or restructurings;
technology changes; changes in consumer spending and saving habits; and the
success of the RBS Group in managing the risks involved in the foregoing. The
risks and uncertainties are discussed in the RBS Group's SEC filings. The
forward-looking statements contained in this website speak only as of the date
of the related document, and the RBS Group does not undertake to update any
forward looking statement to reflect events or circumstances after the date
The information contained in this website is subject to, and must be read in
conjunction with, all other publicly available information, including, where
relevant any fuller disclosure document published by RBS. In particular, the
terms of any product are governed by applicable documents establishing such
terms. In the event of any inconsistency between the information on the website
regarding a particular security and the terms specified in, or determined
pursuant to, the documents establishing the terms of issue or contract, the
terms so specified or determined shall prevail. Any person at any time
acquiring the securities must do so only on the basis of such person's own
judgement as to the merits of the suitability of the securities for its
purposes and only on such information as is contained such in public information
having taken all such professional or other advice as it considers necessary or
appropriate in the circumstances and not in reliance on the information
contained herein. In particular, RBS does not provide tax advice. Investors
should consult their own tax advisors regarding the tax consequences of any
securities mentioned on the website. Levels and bases of taxation may change.
The information is not tailored for any particular investor and does not
constitute individual investment advice.
You should consider whether an investment strategy or the purchase or sale of
any investment product is appropriate for you in the light of your particular
investment needs, objectives and financial circumstances. Questions regarding
the suitability of an investment for your specific financial and tax situation
should be referred to your financial and tax advisers. Certain investment
strategies and investment products featured on the website may not be available
or suitable to all persons.
Information in this website on past performance cannot be relied upon as a
guide to future performance. The value and income of any products mentioned
in this website can fall as well as rise and an investor may get back less than
The purchase of products may entail risks. In particular, changes in (a)
interest and exchange rates, (b) the credit of an issuer of a security and (c)
the political climate may have a negative effect on the value, price or return
of the mentioned securities and financial instruments. Unless otherwise stated,
any pricing information on this website is indicative only, is subject to
change and is not an offer to deal. Unless otherwise stated, any price quoted
is exclusive of tax and delivery costs.
The financial information published or to be published on this website, or made
available or to be made available through this website, is compiled and placed
on this website with the greatest of care. Nevertheless, only the original
hard-copy English versions of this information shall be regarded as the
original version. No rights may be derived from financial information published
or to be published on this website, or available or to be made available
through this website, including with regard to its accuracy and completeness.
United Kingdom Regulatory Information
If you are not satisfied with any of RBS' products or services we have a complaint
handling procedure that you can use to resolve such matters.
The Bank is a member of The Financial Ombudsman Service. If you are still not
satisfied after following the Bank's procedures, you can ask the Ombudsman to
review the complaint.
You can find out more about The Financial Ombudsman Service in a leaflet
available from any branch or by telephoning the Bank. Alternatively you can
write to: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR or telephone 0845 080 1800.
held unenforceable, it will not affect the validity and enforceability of the
remaining provisions and will be replaced by an enforceable provision that
comes the closest to the intention underlying the unenforceable provision.
dispute regarding this website shall be subject to the exclusive jurisdiction
of the Scottish courts.
The Royal Bank of Scotland plc, Registered in Scotland No 90312. Registered
Office: 36 St Andrew Square, Edinburgh EH2 2YB.
Notice to Customers
To help the government fight the funding of terrorism and money laundering
activities, all financial institutions are required by law to obtain, verify
and record information that identifies each individual or entity that opens an
follows is a list of links that may be of use to you after reading the main
content. If you wish to re-read the main content then go back to main content.