Filed pursuant to Rule 433 | Registration Statement Nos. 333-162193
and 333-162193-01

                                                          BUILDING TOMORROW (TM)

Finally, a trend you'll want to follow.

The RBS US Large Cap Trendpilot(TM) ETN provides exposure to the SandP 500(R)
Total Return Index or the yield on 3-month US Treasury bills using a systematic
strategy. By moving in and out of tracking the SandP 500(R) Total Return Index
according to an objective and transparent methodology, the RBS US Large Cap
Trendpilot(TM) ETN provides exposure to equities in positive trending markets,
and exposure to 3-month US Treasury bills in negative trending markets. Now,
that's a trend worth following.

The Trend is Your Friend(TM)

Visit rbs.com/etnUS or call 1-855-RBS-ETPS to learn more.

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rbs.com/etnUS

IMPORTANT INFORMATION: The Royal Bank of Scotland N.V. (RBS NV) and RBS Holdings
N.V. (RBS Holdings) have filed a registration statement (including a prospectus)
with the US Securities and Exchange Commission (SEC) for the offering of RBS
ETNs to which this communication relates. Before you invest in any RBS ETNs, you
should read the prospectus in that registration statement and other documents
that have been filed with the SEC for more complete information about RBS NV and
RBS Holdings, and the offering. You may get these documents for free by visiting
EDGAR on the SEC's web site at www.sec.gov. Alternatively, RBS NV, RBS Holdings,
RBS Securities Inc. (RBSSI) or any dealer participating in the relevant offering
will arrange to send you the prospectus and the pricing supplement at no charge
if you request it by calling 1-855-RBS-ETPS (toll-free).

"Standard and Poor's(R)", "SandP(R)" and "SandP 500(R)" are trademarks of
Standard and Poor's ("SandP") and have been licensed for use by RBS Securities
Inc. ("RBSSI") and its affiliates. The RBS US Large Cap Trendpilot(TM) ETNs are
not sponsored, endorsed, sold or promoted by SandP and SandP does not make any
representation regarding the advisability of investing in such ETNs.