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-RBS sets price guidance on RMBS issuance.

Global Banking News-April 5, 2011--RBS sets price guidance on RMBS issuance(C)2011 ENPublishing -

Global Banking News - 05 April 2011

UK's Royal Bank of Scotland Group Plc (LSE: RBS) (NYSE: RBS-PP) has set price guidance on its planned issue of sterling, euro and dollar-denominated bonds backed by prime UK residential mortgages, Dow Jones has reported, citing a person familiar with the situation.

Price guidance on the class 'A1' bonds, denominated in euros and dollars and worth the equivalent of GBP1.191bn, has been set in the area of 120 basis points over the benchmark inter-bank funding rate. Guidance on the sterling, euro, and dollar-denominated 'A2' bonds, worth GBP812m, has been set at 140-145 basis points over the benchmark; while guidance on the GBP201m sterling-denominated 'A3' bonds has been set in the area of 150 basis points over the benchmark.

The 'A1' notes have a weighted average life (WAL) of 0.99 years. The 'A2' notes have a WAL of 3.35 years and the 'A3' notes have a WAL of 5.14 years. The bonds will be rated triple-A, and will be issued by a vehicle called Arran 2011-1.

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Date:Apr 5, 2011
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