7th December 2017

Not for distribution, directly or indirectly, in or into the United States or any jurisdiction in which such distribution would be unlawful.

TSB Bank plc

Post-Stabilisation Notice

The Royal Bank of Scotland plc (trading as NatWest Markets), (contact: Chris Agathangelou, TEL: +442070851297) hereby gives notice that no stabilisation (within the meaning of Article 3.2(d) of the Market Abuse Regulation (EU/596/2014)), was undertaken by the Stabilising Manager(s) named below in relation to the offer of the following securities.

Issuer:   TSB Bank plc
Guarantor (if any): TSB Covered Bonds LLP
Aggregate nominal amount: GBP 500m
Description: 5yr Covered Bond
Stabilising Manager(s) The Royal Bank of Scotland plc (trading as NatWest Markets) (co-ordinating stabilisation manager)

HSBC Bank plc
Lloyds Bank plc

Banco de Sabadell

Offer price: 100

This announcement is for information purposes only and does not constitute an invitation or offer to underwrite, subscribe for or otherwise acquire or dispose of any securities of the Issuer in any jurisdiction.

This announcement is not an offer of securities for sale into the United States. The securities referred to above have not been, and will not be, registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. There has not been and will not be a public offer of the securities in the United States.

LEI: 549300XP222MV7P3CC54

Classification: 3.1 Additional regulated information required to be disclosed under the laws of a Member State

Short Name: Royal Bk Scot.Grp.
Category Code: MSCL
Sequence Number: 637085
Time of Receipt (offset from UTC): 20171207T143124+0000


The Royal Bank of Scotland plc


The Royal Bank of Scotland plc