Material economic terms


Material economic terms

Important Notice

This web page contains links to forms of confirmations and spreadsheets of material economic terms relating to a variety of types of transactions (“Transactions”) that RBS plc (“we”) may enter into with counterparties from time to time.  Any confirmation or other documentation we directly provide to you in respect of an actual or potential Transaction will supersede the information on this website and, to the extent inconsistent, such confirmation or other documentation will control. 

In addition, the agreed upon terms of any Transaction that we enter into with you will be set forth in the confirmation or other agreement that you and we enter into with respect to that Transaction and may differ materially from the terms set forth in the forms and spreadsheets available on or through this web page. 

By making this web page available, we are not indicating that we are willing to enter into any Transaction with any counterparty on any terms.  To the extent that you are trading structured products and cannot find your disclosures and terms within, please contact your RBS Sales Associate for assistance.

The Royal Bank of Scotland plc (RBS plc), as a registered Swap Dealer, is required to provide these to you pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act in relation to swaps entered into between us.  These terms should be read prior to engaging in swaps transactions with us.

Please make sure you also review pertinent Disclosure documents and any relevant Relationship Documentation.  These can be found under their respective sections.

Please use the menu on the left to navigate to your documents.  Should you have any questions about these documents please contact your RBS Sales Associate for more information.

 

RBS plc
Hierarchy Framework for Regarding Transaction Terms

This Disclosure Statement describes the manner in which the terms of any Transaction that RBS plc ("we")may enter into with you will be determined.  The term "Transaction" has the meaning set forth in the General Disclosure Statement for Transactions that we have provided to you.

Before entering into any Transaction, you should conduct a thorough and independent evaluation of the terms of the Transaction in light of your particular circumstances and the nature and extent of your exposure to, and willingness to incur, risk.  You should also consider whether the Transaction is appropriate for you in light of your experience, objectives, financial and operational resources and other relevant circumstances.  Unless expressly agreed in writing, we are not providing you with legal, financial, tax, accounting or other advice in connection with any Transaction.

The terms of any Transaction that you and we enter into will be set forth in the confirmation or other agreement evidencing the Transaction, including any terms incorporated by reference therein.  Subject to the exceptions described below, any Transaction that you and we enter into will have the terms that you and we expressly agree upon (orally, via email or in any other manner) in connection with the Transaction and other terms determined as follows:

(1) Specified prior transaction, form confirmation or terms spreadsheet. If we notify you that the Transaction will have the terms set forth in a specified prior transaction, form confirmation or terms spreadsheet, the Transaction will have such terms, subject to any express agreement between you and us in connection with the Transaction.

(2) Master confirmation agreement. If (1) does not apply and you and we are party to a master confirmation agreement that governs the Transaction, the Transaction will have the terms set forth in the master confirmation agreement, subject to any express agreement between you and us in connection with the Transaction.

(3) Unspecified prior transaction. If neither (1) nor (2) applies and you and we have previously entered into a transaction of the same type, the Transaction will have the terms set forth in the most recent transaction of the same type that you and we entered into, subject to any express agreement between you and us in connection with the Transaction.

(4) Unspecified form confirmation or terms spreadsheet. If none of (1), (2) or (3) applies and the Transaction is of a type that is covered by a form confirmation and/or a terms spreadsheet that is available at herein, then the Transaction will have the terms set forth in the form confirmation and/or terms spreadsheet, as applicable, subject to any express agreement between you and us in connection with the Transaction.  In the event of any inconsistency between a form confirmation and a terms spreadsheet that relate to the same type of transaction, the terms set forth in the terms spreadsheet control.

The description above of the manner in which the terms of any Transaction that you and we enter into will be determined is subject to the following important exceptions:

(A) If you and we enter into a Transaction that is cleared through a clearinghouse or executed through a trading platform that prescribes the terms of the Transaction, the Transaction will have the terms specified by the applicable clearinghouse or trading platform and, subject to the rules of the clearinghouse or trading platform, any additional terms that you and we expressly agree upon in connection with the Transaction.

(B) If you and we enter into a Transaction for “give-up” to a third party, the terms of the Transaction will be subject to the terms of any agreement with that third party.

 

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