Filed pursuant to Rule 433. Registration Statement Nos. 333-162219,
333-162219-01, 333-162193 and 333-162193-01
855.727.3877 WWW.RBS.COM/ETNUS

[GRAPHIC OMITTED]

Trading RBS Exchange Traded Notes
[GRAPHIC OMITTED]

RBS ETNs are traded on the NYSE Arca
9:30am - 4:00pm ET

FOR REGISTERED BROKER/DEALERS AND REGISTERED INVESTMENT ADVISORS ONLY. NOT FOR
DISTRIBUTION TO INDIVIDUAL INVESTORS.

RBS US Large Cap               RBS US Mid Cap                 RBS Gold                        RBS Oil
Trendpilot[TM] ETN             Trendpilot[TM] ETN             Trendpilot[TM] ETN              Trendpilot[TM] ETN
                                                                                              TWTI
[GRAPHIC OMITTED]              [GRAPHIC OMITTED]              [GRAPHIC OMITTED]               [GRAPHIC OMITTED]
Ticker: TRND                   Ticker: TRNM                   Ticker: TBAR                    Ticker: TWTI
Intraday Indicative            Intraday Indicative            Intraday Indicative             Intraday Indicative
Value Ticker: TRND.IV          Value Ticker: TRNM.IV          Value Ticker: TBAR.IV           Value Ticker: TWTI.IV
CUISP: 78009L308               CUISP: 78009L209               CUISP: 78009L407                CUISP: 78009P127
ISIN: US78009L3087             ISIN: US78009L2097             ISIN: US78009L4077              ISIN: US78009P1277
Bloomberg Index Ticker: TPLCUT Bloomberg Index Ticker: TPMCUT Bloomberg Index Ticker: TPGLDUT Bloomberg Index Ticker: TPoILUT

[GRAPHIC OMITTED] Firms with a Master Selected Dealer Agreement (MSDA) with RBS
Securities Inc. may purchase block orders directly through RBS Securities Inc.

[GRAPHIC OMITTED] Contact your trading desk or Pacer Financial at 855-727-3877
for any trading questions.

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 relevant 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 relevant
Index may underperform its Benchmark Index, and is expected to perform poorly in
volatile markets. Liquidity of the market for RBS ETNs may vary over time. The
RBS ETNs are not principal protected and do not pay interest. Any payment on RBS
ETNs is subject to the ability of The Royal Bank of Scotland N.V. or The Royal
Bank of Scotland plc, as the issuer, and RBS Holdings N.V. or The Royal Bank of
Scotland Group plc, as the guarantor, to pay their respective obligations when
they come 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), The Royal Bank
of Scotland Group plc, The Royal Bank of Scotland N.V. (RBS N.V.) and RBS
Holdings N.V. (collectively, the RBS Entities) have each filed a registration
statement (including a prospectus) with the Securities and Exchange Commission
(SEC) for the offering of RBS ETNs to which this communication may relate.
Before you invest in any RBS ETNs, you should read the relevant prospectus in
such registration statement and other documents that have been filed with the
SEC for more complete information about the relevant RBS Entities and offerings.
You may get these documents for free by visiting EDGAR on the SEC website at
www.sec.gov . Alternatively, RBS N.V., RBS plc, RBS Securities Inc. or any
dealer participating in the relevant offering will arrange to send you the
relevant prospectus and pricing supplements if you request by calling
1-855-RBS-ETPS (toll-free).

Image used with permission of NYSE Group, Inc [C] 2011 NYSE Group, Inc.