Filed pursuant to Rule 433. Registration Statement Nos. 333-162219,
333-162219-01, 333-162193 and 333-162193-01.
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                                    RBS LOGO
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www.rbs.com/etnUS or 855.RBS.ETPS (855.727.3877)

Investing in Oil doesn't have to be so crude
RBS Oil Trendpilot(TM) Exchange Traded Notes

The RBS 12-Month Oil Total Return Index (USD) tracks a hypothetical notional
investment in a series of twelve light sweet crude oil (WTI) futures contracts
that are traded on the NYMEX.

Using an objective and transparent methodology, the strategy moves in and out
of tracking the RBS 12-Month Oil Total Return Index (USD), depending on the
relative performance of the RBS 12-Month Oil Total Return Index (USD) to its
historical 100-business day simple moving average.

     []   In positive trending markets, the ETN provides exposure to crude oil
          futures prices.
     []   In negative trending markets, the ETN provides exposure to 3- month US
          Treasury bills.

Unlike commodity ETFs that invest in commodity futures contracts, you will not
receive a Schedule K-1 for an investment in the RBS Oil Trendpilot(TM) ETN.

[GRAPHIC OMITTED]
NYSE Arca: TWTI
Learn more about TWTI

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TWTI
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RBS Oil
Trendpilot(TM) ETN

Download:
Pricing Supplement | Factsheet
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Call today to find out more: 855.RBS.ETPS (855.727.3877)

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TRND                           TRNM                           TBAR
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RBS US Large Cap               RBS US Mid Cap                 RBS Gold
Trendpilot(TM) ETN             Trendpilot(TM) ETN             Trendpilot(TM) ETN
Download:                      Download:                      Download:
Pricing Supplement | Factsheet Pricing Supplement | Factsheet Pricing Supplement | Factsheet
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FOR BROKER-DEALERS AND REGISTERED INVESTMENT ADVISERS ONLY

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).