The FTSE 100 Tracker Fund - Including: Key Facts about our services and costs. Supplementary Information Document. FTSE 100 Tracker Fund ISA Terms ...

 
The FTSE 100                ®

            Tracker Fund
            Including:
            Key Facts about our services and costs.
            Supplementary Information Document.
            FTSE® 100 Tracker Fund ISA Terms and Conditions.

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This booklet includes the following contents:
            Key facts about our Services and Costs          3
            Supplementary Information Document              5 – 12
            FTSE® 100 Tracker Fund ISA Terms and Conditions 13 – 17

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about our services and costs
                                                                                                                     National Westminster Bank Plc
                                                                                                                     135 Bishopsgate
                                                                                                                     London EC2M 3UR

                         1. The Financial Conduct Authority (FCA)
                            The FCA is the independent watchdog that regulates financial services. This document is designed by the FCA to be
                            given to consumers considering buying certain financial products. You need to read this important document. It
                            explains the service you are being offered and how you will pay for it.

                         2. Which service will we provide you with?

                                 Independent advice – We will advise and make a recommendation for you after we have assessed your needs.
                                 Our recommendation will be based on a comprehensive and fair analysis of the market.
                                 Restricted advice – We will advise and make a recommendation for you after we have assessed your needs, but we
                                 only offer advice on limited types of products, or products from one company or a limited number of companies.
                              No advice – You will not receive advice or a recommendation from us. We may ask some questions to narrow
                                 down the selection of products that we will provide details on. You will then need to make your own choice about
                                 how to proceed.
                         3. What will you have to pay us for our services?
                              We will tell you how we get paid, and the amount, before we carry out any business with you.

                         4. Who regulates us?

                            National Westminster Bank Plc, 280 Bishopsgate, London EC2M 4RB is authorised and regulated by the Financial
                            Conduct Authority. Our Financial Services Register number is 121878.
                            Our permitted business is advising and arranging life insurance, pensions and investments.
                            You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register or by
                            contacting the FCA on 0800 111 6768.
                         5. Loans and ownership

                         National Westminster Bank Plc and RBS Collective Investment Funds Limited are wholly owned by The Royal Bank of
                         Scotland Group plc.

                         6. What to do if you have a complaint

                         If you wish to register a complaint please contact us:
                         ...in writing      Write to: RBS Collective Investment Funds Limited, PO Box 6795, Brentwood, Essex CM15 8WA.
                         ...by phone        Telephone 0844 892 2502. Lines are open Monday to Friday 8.00am to 6.00pm (excluding bank
                                            holidays). Calls may be recorded and monitored.
                         If you have hearing or speech difficulties please dial Minicom 0800 404 6160.
                         If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service.

                         7. Are we covered by the Financial Services Compensation Scheme (FSCS)?

                         We are covered by the FSCS. You may be entitled to compensation from the scheme if we cannot meet our obligations.
                         This depends on the type of business and the circumstances of the claim. Most types of investment business are up to a
                         maximum limit of £50,000. Further information about compensation scheme arrangements is available from the FSCS.

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Supplementary Information Document
                  About this document
                  This document is designed to provide you with information about the FTSE® 100 Tracker Fund (the Fund). Please read it alongside the two-page Key Investor Information
                  Document (KIID). Together, these two documents provide information to help you decide if the Fund is right for you, and provide answers to some important questions.

            Contents
            About this document                                     5
            Welcome to the FTSE® 100 Tracker Fund                   6
            How the Fund works                                      6
            Who is the Fund suitable for?                           6
            What are the Risk Factors?                              6
            How to invest                                           7
            Cash Held                                               7
            ISA transfers – what you need to know                   8
            Withdrawing your investment                             8
            Product charges                                         9
            Potential returns                                       9
            How your investment is taxed                            9
            What to do if you have a complaint                      10
            Your classification                                      10
            Your questions                                          11
            Next Steps                                              12
            How to apply                                            12
            How to contact us                                       12

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Welcome to the FTSE® 100 Tracker Fund
            The FTSE® 100 Tracker Fund provides a simple way to invest in the UK stock market. It allows you to take full advantage of the growth potential of stocks and shares, without
            needing your own investment strategy. The value of your investment simply tracks the value of the FTSE® 100 Index, so it’s easy to keep an eye on how your investment is doing.                Y
                                                                                                                                                                                                           T
                The value of your investment and any income can go down as well as up, and you should be aware that you may not get back the value of your
                original investment.

            How the Fund works
            When you invest in the FTSE® 100 Tracker Fund, you are effectively buying shares in the UK’s largest companies by market capitalisation on the London Stock Exchange.
            These will be well-known companies such as Vodafone, Tesco and Marks & Spencer.
            As its name suggests, the Fund tracks the performance of the FTSE® 100 Index. This Index reflects the value of the 100 companies listed on it. So, if it goes up, the value
            of your investment also rises. Likewise, if the Index falls, the value of your investment will also fall.
            Because the Fund invests in a variety of shares, the risk is spread more widely than if you invested directly in the shares of a single company.

            Who is the Fund suitable for?
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            You should consider investing in the FTSE® 100 Tracker Fund if:
            Q   You want a straightforward way to invest in UK shares
            Q   You understand that the value of the Fund can fall as well as rise
            Q   You recognise that you could get back less than what you put in
            Q   You want to spread risk by tracking an index rather than investing in an individual company’s shares
            Q   You wish to invest tax-efficiently using your ISA allowance
            Q   You are happy making an investment decision without seeking advice
            Q   You are prepared to invest for a minimum of 5 years
            Q   You are aged 18 or over

            What are the Risk Factors?
            The RBS Index Tracker Funds, Investment Fund with Variable Capital (ICVC) aims to provide an adventurous investment vehicle where there is a high risk of loss to capital when
            compared to lower risk investments such as cash accounts and investments where you have some protection for your capital. The value of your investment can go down as
            well as up and you may get back less than the value of your original investment. What you get back is not guaranteed. It will depend on the investment performance of the
            Fund, our charges and any withdrawals you make.
            In the event of RBS Collective Investment Funds Limited being unable to meet its obligations (e.g. if it stops trading or becomes insolvent), you may lose some or all of
            your money.
            The investments of the Fund are subject to normal market fluctuations and other risks inherent to investing in securities. There can be no assurance that any increase in the
            value of investments will occur and there is no assurance that the investment objective of the Fund will actually be achieved.
            The value of your investment will also depend on how closely the Fund is able to track the FTSE® 100 Index. The Fund aims to track the Index by investing in a broad range
            of shares underlying the Index. The performance of the Fund will not perfectly track this Index due to the impact of:
            Q    any regulatory restrictions on the Fund investments matching the constituents of the Index;
            Q    dealing costs, charges and other expenses; and
            Q    the timing of income from investments, sales and purchases of investments to meet the cash flows of the Fund.
            Future changes in tax rules by the Government and our charges may affect the value of your investment and any returns from this. For more information on risks involved in,
            and for risks relating specifically to the Fund, please refer to the Key Investor Information document.

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How to invest
            Your options
            There are a number of different ways to invest in the FTSE® 100 Tracker Fund. How you choose to invest will depend on your individual circumstances and objectives.
            Whichever option you choose, you should plan to keep your investment for at least five years.
            From time to time, money may be held on your behalf that has not been invested in the Fund. On these rare occasions, interest won’t be paid to you.
            Invest using your Stocks and Shares ISA allowance
            Q   You can invest in the FTSE® 100 Tracker Fund using your annual Stocks and Shares ISA allowance
            Q   This is a tax allowance from the Government allowing you to invest up to £11,280 per tax year tax-efficiently as per 2012/2013 allowance
            Q   You can invest an initial lump sum (from £500 with additional single increments of £200 or more)
            Q   You can invest a regular monthly amount from £30 a month with increments of £10 or more
            Invest by transferring an existing ISA
            Q   If you have existing Cash or Stocks and Shares ISAs with other providers, you can transfer them into the Fund (the minimum you can transfer in is £500)
            Q   Please note your existing ISA provider may charge you a fee to transfer the ISA. Before considering transferring an ISA please read ‘ISA transfers - what you need to know’
                on the following page
            Invest directly
            You can invest directly into the Fund, whether or not you also use your annual ISA allowance or transfer any existing ISAs.
            Q   You can invest an initial lump sum from £1,000
            Q   You can set up a regular monthly amount (from £30 a month with increments of £10 or more)
            Q   You can top up at any time with amounts of £1,000 or more
            Q   You can invest directly in these funds in your own name or jointly with up to three other people. An ISA application however must be in a single name only

                Please note that any tax treatment and/or reliefs referred to are those that apply under current legislation. They may change in the future and their availability
                will depend on your individual circumstances. The favourable tax treatment of ISAs may not be maintained.

                FTSE® 100 Tracker Fund – how much you can invest

                                                                  Investing via Stocks and Shares ISA        Investing via ISA transfer                   Investing directly
                Lump sum or regular?
                                                                  Minimum              Maximum               Minimum                 Maximum              Minimum              Maximum

                Initial lump sum investment                       £500                 £11,280               £500                    No limit             £1,000               No limit

                Regular monthly investment                        £30 per month        £940 per month        Not applicable                               £30 per month        No limit

                Stocks and Shares ISA                                                               vs Cash ISA

                Invests in shares and related assets                                                    Typically a deposit or interest bearing account

                Potential for capital growth                                                            Fixed or variable interest

                Risk of losing money                                                                    Greater capital security
                Invest up to £11,280 per tax year less any amount invested into a cash ISA              Invest up to £5,640 of the overall ISA allowance per tax year with one provider
                (as per 2012/13 ISA allowance)                                                          (as per 2012/13 ISA allowance)

            Cash Held
            Interest will not be paid on any money held by us on your behalf that is not invested in Shares at any time.
            We reserve the right not to treat any cash balances due to you as client money if they remain unclaimed for a period of over 6 years. We will continue to accept and process
            any valid claims against such money during and after this period.

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ISA transfers – what you need to know
            What is an ISA transfer?                                                                                                                                                                        T
            An ISA transfer is when you move investments held in an existing ISA into a new ISA with another ISA Manager, for example into the FTSE® 100 Tracker Fund ISA. The following                    T
            information aims to explain what’s involved and the risks you should be aware of.
            How it works
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            You can transfer part or all of a previous year’s ISA investment into the Tracker Fund. If you want to transfer an ISA investment made in the current tax year, you must transfer
            the whole amount. The minimum transfer value is £500. Our Administration team will guide you through the transfer process, but will not offer investment advice. You should
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            be aware of:
            Q   ISA transfers can only be accepted as cash
            Q   Any exit charges that your old provider may apply
            Q   Any difference in ongoing charges
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            Q   A potential difference in the risk between your old investment and the FTSE® 100 Tracker Fund
            Q   The possibility that you may lose tax benefits when you transfer
            Q   The possibility that you may miss out on growth while the transfer (that can take up to 30 days) takes place – if the stock market rises
            Q   If you choose to transfer a Stocks and Shares ISA into the Fund and then decide to cancel after the investment has been made, you may not be able to reinstate your Stocks
                and Shares ISA with your previous ISA provider                                                                                                                                              T

            Thinking of transferring a Cash ISA?
            If you are considering transferring a Cash ISA into the Fund, please bear in mind the following:
            Q   Stocks and Shares ISAs, such as the FTSE® 100 Tracker Fund ISA, involve higher risks than Cash ISAs with the aim of providing long-term capital growth
            Q   Stocks and Shares ISAs are a longer-term investment which you should plan to commit to for at least five years                                                                               T
            Q   Stocks and Shares ISAs offer the potential for greater returns, but this isn’t guaranteed and the returns could be lower than a Cash ISA. There is also the possibility that you
                may lose money                                                                                                                                                                              T
            Q   If you choose to transfer a Cash ISA into the Fund and then decide to cancel after the investment has been made, you won’t be able to reinstate your
                Cash ISA. There is also a risk you will lose the tax benefits if you don’t transfer the plan value at that time to another Stocks and Shares ISA
            Q   Once you transfer a Cash ISA to a Stocks and Shares ISA you are unable to transfer this back into a Cash ISA
            To transfer an existing ISA
            Please contact our Administration Team on 0844 892 2502. You will need to complete and sign an ISA Transfer Application form and send it to us. We will then send it to your
            current ISA manager.

            Withdrawing your investment
            The Fund is designed as a medium to long-term commitment which you should plan to stay invested in for at least five years. You can however, withdraw from your investment                       T
            at any time.
            Q   The minimum withdrawal amount is £50                                                                                                                                                        W
            Q   You must keep at least £50 invested in order to keep your plan open
            Q   Any withdrawal will reduce what you get back when you cash in your investment
            Q   If you invest the maximum amount into a Stocks and Shares ISA and then make a withdrawal, you will not be able to reinvest that amount back into an ISA in the same tax year
            Q   To sell shares, please write to us at: RBS Collective Investment Funds Limited, PO Box 6795, Brentwood, Essex CM15 8WA
            Q   We will send you a cheque within four working days of receiving your signed written request
            On the day we receive your written instructions, we will normally sell your shares based on the value of your shares in the FTSE® 100 Tracker Fund at 12 midday on the same
            day (assuming it’s a business day). If we receive your request after 12 midday – or if it’s not a business day – we’ll use the value of your shares in the FTSE® 100 Tracker Fund
            at 12 midday on the next business day.

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Product charges
            There is no initial charge to invest in the Fund, however, there are other charges that may apply:
            The Annual Management Charge (AMC) – this charge covers the cost of managing the Fund, researchers and analysts. It also pays the cost of administering your
            investment. This charge may be increased if the cost of managing your investment increases – for example, due to changes in taxation, regulation, the law or the cost of fund
            management. If the AMC is to be increased, we’ll write to you to let you know.
            The Ongoing Charges – The Ongoing Charges are the annual operating costs of the Fund. It is the total of the annual management charge, service charges, registrar charges
            and other expenses relating to the management of the Fund. All European funds highlight the Ongoing Charges to help you compare the annual operating expenses of different
            funds. Please note that the Ongoing Charges may vary from year to year.
            IMPORTANT – Please be aware that the fund managers are able to vary the charges applied, but we will inform you of any changes in advance.
            Investor Protection Fee – We may, in exceptional circumstances, apply an Investor Protection Fee to ensure fairness between all investors in the Fund. We apply it when you
            buy or sell shares in the Fund and it will reduce the value of your investment. The fee will be retained in the Fund for the benefit of all existing investors.
            The Investor Protection Fee may be applied in the following circumstances:
            Q   An investor wants to sell a significant number of shares in the Fund or invest a significant amount
            Q   The fund manager may have to sell assets from the Fund or buy new assets
            Q   The Fund may incur significant dealing costs which would mean other investors would be disadvantaged if the Investor Protection Fee wasn’t applied
            The Investor Protection Fee is applied by:
            Q   Reducing the money paid to the investor selling shares or
            Q   Deducting the fee from the money being invested by an investor buying shares
            Potential returns
            The Fund aims to grow the money you invest over a medium to long-term period – that is, over five or more years. The amount you get back will be determined by the value of
            your shares in the FTSE® 100 Tracker Fund at the time you cash in your investment.
            The amount is not guaranteed and will be affected by factors including:
            Q   The amount you invest and the time you allow it to grow
            Q   The performance of the FTSE® 100 Index over the period of your investment
            Q   Our charges and fees
            Q   Any withdrawals you make

            How your investment is taxed
            The amount of tax you pay on your investment will depend on a number of factors, including how you invest, how your investment performs and whether you are a non-
            taxpayer, a basic rate taxpayer or pay tax at one of the higher rates.

            When investing directly
            Please note, you must declare taxable income or gains from your direct investments to HM Revenue & Customs.
            Income tax
            Dividend payments from shares that the Fund invests in are reinvested in the Fund after 10% tax has been deducted. This increases the Fund value. Dividend payments provide
            you with a share of the profits of the FTSE® 100 companies
            Q   Non-taxpayers will not be able to reclaim the 10% tax deducted
            Q   If you pay tax at the basic rate, you won’t have to pay any more tax
            Q   If you pay tax above the basic rate, you will have additional tax to pay
            Q   We will send you a tax voucher showing the amount of the dividend and the tax paid
            Capital Gains tax
            Q   You may have to pay Capital Gains Tax if you cash in your investment and make a profit (a gain)
            Q   However, you could minimise any Capital Gains Tax liability by using your Capital Gains annual exemption in the year that you cash in your investment
            Q   We do not deduct Capital Gains Tax before we pay out the value of your investment

            When investing via an ISA
            Q   You do not have any personal liability to Income Tax or Capital Gains Tax on an ISA investment
            Q   The value to an investor of the tax advantages of an ISA will depend on personal circumstances, which may change
            Q   There is no need to declare income or gains from your ISA to HM Revenue & Customs
            Q   Dividend payments from shares in the Fund are reinvested in the Fund after 10% tax has been deducted and this cannot be reclaimed
            Stamp Duty Reserve Tax (SDRT)
            Q   Any liability for SDRT is currently met by RBS Collective Investment Funds Limited, so, as an investor, you will not be liable to pay it

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What to do if you have a complaint                                                                                                                                                            Y
            Complaint Handling
            If you make a complaint we would aim to solve your concern as soon as possible. However, if we have not been able to resolve your concern within one week, we will write to                   A
            tell you:
            Q    Why we have not yet resolved your complaint
            Q    Who is dealing with your complaint                                                                                                                                                       A
            Q    When we will contact you again
            We would contact you regularly until your complaint has been resolved and we aim to resolve your complaint as quickly as possible.
            If your complaint is particularly complicated, it may take longer to resolve. When we have completed our investigation, we would issue our final response letter.
            If we cannot issue a final response letter 8 weeks after receiving your complaint, we would send you a letter giving our reasons for the delay and an indication of when we
            expect to provide a resolution.
            You would also receive a leaflet explaining your referral rights to the Financial Ombudsman Service. If you are not satisfied with our decision or explanation, we would be happy               A
            to discuss further with you.

            How do I make a complaint?
            If you wish to complain about the services you have received or the operation of the Fund or the ISA, please contact:
            RBS Collective Investment Funds Limited                                                                                                                                                       A
            PO Box 6795
            Brentwood
            Essex
            CM15 8WA                                                                                                                                                                                      A
            Telephone: 0844 892 2502
            Customers with hearing and speech impairments can contact us by Minicom: 0800 404 6161
            Telephone lines open Monday-Friday 8am – 6pm (excluding bank holidays). Calls may be recorded for training or monitoring purposes.
            If you’re not satisfied with our response, you can write directly to the Financial Ombudsman Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR.
            Alternatively, call on 0800 023 4567 or 0300 123 9123 (for mobile users)
            This doesn’t affect your legal rights.

            Your classification
            We will treat you as a “retail client” (as defined in the FCA’s Rules) for regulatory purposes. This affords you the highest degree of protection under the UK regulatory system.
            You may request to be classified differently. However, if we are able to do this, you will be afforded a lower level of client protection. For more information about the protections
            you would lose please contact us.

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Your questions
            Q: How can I see how my investment is performing?
            A: We will send you a statement in January and July every year showing transactions throughout the period and a recent valuation of your investment. You can also check
               the FTSE® 100 Tracker Fund price in the Financial Times published on a daily basis.
            Q: What happens to my investment if I die?
            A: If you’ve invested on your own:
               We’ll pay the full value of your investment to your Legal Personal Representatives on request, provided we receive the necessary documents and information. It will
               form part of your estate and may be subject to Inheritance Tax. We can transfer the shares to another person at the request of your Legal Personal Representatives.
               Your investment can no longer be held as an ISA after you die. The money will remain invested until we receive instructions from your Legal Personal Representatives.
                If you’ve invested with someone else or other people:
                The investment will continue and they will own it. The value of your share of the investment may be subject to Inheritance Tax.
            Q: Is my investment protected by any compensation scheme?
            A: RBS Collective Investment Funds Limited is a member of the Financial Services Compensation Scheme (FSCS). The Scheme can pay compensation to customers if they are
               eligible and a regulated firm is unable to pay claims against it, usually if the company stops trading or is insolvent, as long as the company is registered with the scheme.
               Compensation limits apply depending on the type of claim. For investments, the maximum is £50,000 per person i.e. 100% of the first £50,000. Most retail customers (this
               includes private individuals and some small businesses) are eligible under this Scheme. For more details, please visit www.fscs.org.uk
            Q: Can I change my mind?
            A: Yes. You have 14 days from when you receive your welcome letter confirming we have set up your investment to tell us that you have changed your mind, and have your
               initial investment returned to you less any fall in the investment value in this period. To do this, please write to us at: PO Box 6795, Brentwood, Essex CM15 8WA.
            Q: How do you protect my personal data?
            A: Any personal information obtained by us will be processed and protected in accordance with the Data Protection Act 1998. You can obtain copies of the information
               we hold about you by writing to: The Chief Operating Officer, SAR Team, Ground Floor, RBS Gogarburn, PO Box 1000, Edinburgh EH12 1HQ. A fee may be payable.

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Next Steps
            Before you apply
            It’s important that you make the right investment decision to meet your needs. To help you decide if our FTSE® 100 Tracker Fund is right for you, please ensure you have read
            the Key Investor Information Document along with this Document. If you’re investing through a Stocks and Shares ISA, please ensure you’ve read the terms and conditions.

            Any questions?
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            If there are any more questions you would like to ask or you need help to complete your application, please call us on the number provided below and we’ll do all we can to
            help. Please note that we cannot provide investment advice.
            How to apply
            You can invest directly or through a Stocks and Shares ISA. There are three ways to invest:                                                                                               T
            Q    By post – you should have received all the forms you need. Please ensure you’ve read through them, check the details and sign and date the relevant form(s). Then return
                 them in the pre-paid envelope provided.
                                                                                                                                                                                                      A
            Q    By phone – call 0844 892 2502                                                                                                                                                        A
                 Customers with hearing and speech impairments can contact us by Minicom 0800 404 6161
                 Our lines are open 8am–8pm Mon–Thurs, 8am–6pm Fri and 9am–5pm Saturdays. Calls may be recorded.                                                                                      A
            Q    Online – visit https://invest.natwest.com/natwest/ftse/ select the ‘Apply for our FTSE® 100 Tracker Fund online’ and complete the application.
            For ISA transfers – please contact our Administration Team on 0844 892 2502

            The Authorised Corporate Director (ACD)
            The ACD for the ICVC is RBS Collective Investment Funds Limited. The ACD is responsible for all aspects of the administration and management of the funds and pays
            any commission. The ACD is authorised and regulated by the Financial Conduct Authority. Financial Services Register number SC46694. The ICVC is authorised by the
            Financial Conduct Authority - 25, The North Colonnade, Canary Wharf, London E14 5HS.

            The Depositary
            The Depositary for RBS Index Tracker Funds ICVC is: BNY Mellon Trust & Depositary (UK) Limited, The Bank of New York Mellon Centre, 160 Queen Victoria Street, London
            EC4V 4LA. The Depositary is responsible for the safekeeping of the ICVC’s assets and ensuring that the ICVC is managed in accordance with FCA’s rules.
            How to contact us
            For copies of the full Prospectus and annual and interim Report and Accounts of the ICVC at no charge, please write to us at:
            PO Box 6795
            Brentwood
            Essex
            CM15 8WA
            Telephone: 0844 892 2502
            Customers with hearing and speech impairments can contact us by Minicom: 0800 404 6161
            Telephone lines open Monday-Friday 8am – 6pm (excluding bank holidays). Calls may be recorded for training or monitoring purposes.

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                                                                                                                                                                                                      Y

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FTSE 100 Tracker Fund ISA
                                  ®

            Terms and Conditions
            Please read carefully and retain for future reference.                           d)   We are authorised and regulated by the Financial Conduct Authority
                                                                                                  (FCA) in the conduct of Investment business. The ISA Manager is
            1. Definitions
                                                                                                  approved by HM Revenue & Customs as an ISA Manager under
            The words ‘us’,‘we’ or ‘our’ – refer to RBS Collective Investment Funds               the Regulations.
            Limited and companies employed to act on our behalf.
            ACD – means RBS Collective Investment Funds Limited, which is the                3.   Index Tracker ISA Investment
            Authorised Corporate Director of The Company and The ISA Manager.                a)   i) The Plan will invest in shares in the FTSE® 100 Tracker Fund which is
                                                                                                     a sub-fund of the RBS Index Tracker Funds ICVC, which is an open-
            Account – means an individual Savings Account, referred to in the regulations
                                                                                                     ended investment company with variable capital. The objective of the
            and subscribed to by you as the Plan Holder.
                                                                                                     Fund is to ‘track’ the performance of the FTSE® 100 Index.
            Business Day – means any day on which we are open for business
                                                                                                  ii) The shares in your Plan are accumulation shares. The income
            up to 5pm.
                                                                                                      received by the Fund less expenses and tax is retained within
            Company – the RBS Index Tracker Funds ICVC, an open-ended                                 the Fund.
            investment company with variable capital.
                                                                                                  iii) All payments to us must be from your own resources and we
            Fund – the FTSE ® 100 Tracker Fund.                                                        reserve the right to satisfy ourselves of this
            FCA – the Financial Conduct Authority.                                           b)   If we receive your completed application prior to the tax year to
                                                                                                  which it relates, we cannot invest your payment until the start of the
            FCA Handbook – FCA Handbook of Rules and Guidance as amended from
                                                                                                  tax year you have applied for. In such circumstances we may retain
            time to time.
                                                                                                  your application and payment pending the start of the new tax year.
            Investments – the investments, and cash if any, in the Plan.
                                                                                             c)   Payments in respect of regular monthly savings plans will be collected
            ISA – means Individual Savings Account.                                               normally on the 1st of each month unless specified otherwise, or if
                                                                                                  this is not a Business Day, the next Business Day thereafter.
            ISA Manager – means RBS Collective Investment Funds Limited.
                                                                                                  Shares in respect of these payments will be bought on the first
            Plan – means an individual Savings Account, referred to in the regulations and
                                                                                                  Business Day on or after this. We will send individual confirmation
            subscribed to by you as the Plan Holder.
                                                                                                  of your first investment but not subsequent months. Details of your
            Plan Manager – means the ISA Manager.                                                 purchases will be shown in your statements.
            Prospectus – means the prospectus of The Company as amended from                      We will continue to collect your monthly savings amount by direct debit
            time to time.                                                                         in accordance with your instructions until:
            Regulations – the Individual Savings Account Regulations 1998,                        i) We receive your instructions to stop; or
            as amended from time to time and any other applicable regulations
                                                                                                  ii) We are unable to collect your monthly savings amount for three
            or statutes.
                                                                                                      consecutive months and payments have not recommenced following
            Tax Year – 6 April to 5 April the following year.                                         our notification to you.
            You and Your – means the investor: the individual named as the applicant
                                                                                             4.   Titles and Roles
            in the application form.
                                                                                             a)   The Plan Manager is RBS Collective Investment Funds Limited,
                                                                                                  the Authorised Corporate Director of the Company.
            2.    Introduction
            a)    These Terms and Conditions apply to the Index Tracker ISA and form              The Depositary is The Bank of New York Trust & Depositary Company
                  the agreement between you and RBS Collective Investment Funds                   Limited, One Canada Square, London E14 5AL.
                  Limited ‘the Agreement’.
                                                                                                  The administration of the Company and its sub-funds has been
            b)    You appoint us to manage your Investment in accordance with the                 delegated by the ACD to Bank of New York Mellon, whose
                  Regulations. We may delegate any of our functions or responsibilities           business address is BNY Mellon House, Ingrave Road, Brentwood,
                  under this agreement provided we are satisfied that the person we                Essex CM15 8TG. The detailed Prospectus for the Funds is available
                  delegate to is competent to carry them out.                                     from the Plan Manager on request.
            c)    RBS Collective Investment Funds Limited is authorised and regulated
                                                                                             5.   Cash Held
                  by the Financial Conduct Authority.
                                                                                                  We reserve the right not to treat any cash balances due to you as client
                  Our activities are subject to the Terms of this Agreement, the FCA
                                                                                                  money if they remain unclaimed for a period of over 6 years. We will
                  Handbook and the Regulations (see Definitions).
                                                                                                  continue to accept and process any valid claims against such money
                                                                                                  during and after this period.

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6.    Opening Your Plan                                                                 The new ISA Manager will have to provide us with your written
            a)    This Agreement will come into effect on the day on which we receive               authority for the transfer before it can take place. We do not make
                  your correctly completed Application and Declaration Form. Please                 any charge for the transfer. Your ISA will be transferred to another
                  note you have 14 days from when you receive your welcome letter                   ISA Manager on your instructions.
                  confirming we have opened your account to cancel your investment.             b)   A transfer of part of your plan to another ISA Manager is only
                  If you wish to cancel your investment, please write to us at                      available to you in respect of Investments made in previous tax years
                  RBS Collective Investment Funds Limited, PO Box 6795, Brentwood,                  and where the amount to be transferred is £500 or more, and where
                  Essex CM15 8WA.                                                                   the amount remaining in each Fund is normally £50.
                  Please note that the amount returned to you may be less than the
                  amount invested if there has been a downward movement in the value           10. Full or partial withdrawals (and minimum holdings)
                  of your shares from the date of investment to the date on which your         a) You may withdraw some or all of your Investment at any time by
                  shares are sold. Your shares will be sold on the next business day after         providing us with written instructions to withdraw. Unless you are making
                  which we receive your written instructions.                                      a full withdrawal, the minimum withdrawal amount is £50. If you are not
                                                                                                   withdrawing your total holding in the Fund, the remaining value of your
            b)    To comply with the Money Laundering Regulations 2007 we may
                                                                                                   holding in the Fund after the withdrawal must be at least £50.
                  require from you further evidence of identity. If appropriate evidence
                  is not provided when requested this could delay payment to you.              b)   We will normally sell your shares no later than the next Business Day
                                                                                                    following receipt of your request to make a withdrawal. However,
            c)    On receipt of a correctly completed Application Form, shares paid for
                                                                                                    if your request is received after 12 midday your shares will be sold
                  by cheque will be purchased on the day we receive your cheque or the
                                                                                                    on the next following Business day.
                  following working day if it arrives on a Saturday or after 12 midday;
                  shares paid for by Direct Debit will be purchased as soon as your bank       c)   Payment of your withdrawal will be made to you by cheque, and this
                  has credited us with your first and subsequent payments. Shares                    will be posted to you within 4 Business Days of the sale of your shares
                  purchased online before midday will be credited on the same day.                  subject to our requirements being met.
                  Shares purchased after midday will be credited by midday the next
                                                                                                    These can include having a clear and unambiguous signed request to
                  working day.
                                                                                                    withdraw, proof of your authority to give that instruction and any
                  We will confirm to you in writing details of the shares purchased when
                                                                                                    identification that may be necessary for payment purposes or to
                  we have set up your Plan.
                                                                                                    satisfy anti-money laundering requirements.
            d)    We will, at our discretion and on your behalf, buy and sell shares in
                  the FTSE ® 100 Tracker Fund. It is not intended to hold any cash in          11. Closure of the Plan by Us
                  the Plan.                                                                        We will be entitled in our absolute discretion to terminate the
            e)    If for any reason cash cannot be invested immediately, it will either be         Agreement at any time on giving you 7 days’ notice in writing. We
                  returned to you or will be held in a designated client money bank account.       may close your Plan if you have a balance of less than £50. We will
                  Interest will not be paid on cash balances held in such an account.              close your Plan if it is, or has become, void under the Regulations and
                                                                                                   shall notify you accordingly.
            7.    Aggregation of deals
                                                                                               12. Process if investor dies
                  Investments may be managed together with other Investments or
                  other ISAs managed by us and may be aggregated for transactions.                 In the event of your death your account will cease to qualify for
                  Investments within the Plan may be consolidated with other Plans                 tax exemption under the Regulations from the date of your death.
                  which we hold for you.                                                           On notification of death we will contact your representatives for
                                                                                                   instruction and they may decide to hold the investment in their own
            8.    Transfers in from Other ISA Managers                                             name or repurchase. If they choose to repurchase we will sell the
                                                                                                   shares held within your Plan by the end of the next Business Day
            a)    You may transfer to us Cash ISAs and Stocks and Shares ISAs for the
                                                                                                   following receipt by us of the evidence we require to make payment.
                  current and/or previous tax years that are managed by any ISA
                                                                                                   The proceeds will be paid by cheque and this will be posted to your
                  Manager, provided the value of each ISA being transferred is at least
                                                                                                   legal representatives within 4 Business Days of the sale of the shares
                  £500. Only full transfers can be accepted for the current year.
                                                                                                   that were held within your Plan. These Terms and Conditions are
                  Transfers will only be accepted in the form of payments by cheque
                                                                                                   binding on your personal representatives.
                  from a previous ISA Manager. Once your ISA has been transferred
                  you will be subject to these terms.                                          13. What Happens When Your Plan is Closed
            b)    Any distributions (including tax credits) received from a previous ISA       a) If your signed withdrawal or transfer out form is received before
                  Manager after the transfer of an ISA Investment to the FTSE® 100                 12 midday on Monday to Friday we will sell your shares that day
                  Tracker Fund ISA will be accepted and reinvested in your Plan                    and send out your payment within 4 working days. If it arrives after
                  provided that value is at least £10. Any such payments under                     12 midday or on a Saturday we will sell your shares on the next
                  £10 will be returned to the previous ISA Manager for payment                     working day and send out your payment within 4 working days
                  directly to you.                                                                 thereafter. The payment will be net of any deduction required to
                                                                                                   cover any of our charges that may remain unpaid.
            9.    Transfers Out to Other ISA Managers                                          b)   If any tax becomes payable or repayable in connection with the Plan
            a)    You may transfer all of your Plan or part of your Plan (subject to                becoming void, we will be entitled to sell investments to pay any tax
                  clause 8(b) below) to another Stocks and Shares ISA Manager who                   liability. Closure of a Plan does not affect the completion of
                  is prepared to accept the transfer. You must provide us with written              transactions already started.
                  notice of your wish to transfer your Plan. Only the cash value of the
                  Plan can be transferred.

            14

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c)    The following will apply in these circumstances:                             19. Beneficial Ownership
                                                                                               a) All Investments held under the Plan will be held for you as beneficial
                     if shares are being purchased, then the Plan will be retained until all
                                                                                                   owner. Title to the Investments will be vested in us as Plan Manager.
                     the outstanding purchases are completed; and
                                                                                                   Any document which provides evidence of title to investments will be
                     if shares are being sold, the original instruction to sell will be            held by us or persons appointed by us.
                     progressed and your Plan will be closed.
                                                                                               b)   We will satisfy ourselves that any persons to whom we delegate any of
                                                                                                    our functions or responsibilities under this Agreement are competent to
            14. Tax                                                                                 carry them out.
            a) When you take out an Index Tracker Stocks and Shares ISA you sign
                a Declaration that you have no other Stocks and Shares ISA for the             20. Conflicts of interest
                same tax year. This Declaration is binding on you. Under current
                                                                                                   We are not prevented from providing services under these terms
                legislation, investments held within an ISA are not subject to income
                                                                                                   because of any conflict of interest or duties which may rise as a result
                tax or capital gains tax within the UK.
                                                                                                   of us having a material interest in any transaction or any Associate
            b)    The Plan and these Terms and Conditions are based on our                         having a material interest.
                  understanding of current tax law and HM Revenue & Customs practice.
                                                                                               21. Liability
                  If any changes are made to ISAs or the Regulations, we may have to
                                                                                               a) The value of your Plan may go down as well as up and we accept no
                  change the Terms and Conditions applying to your Plan in order to
                                                                                                   responsibility for the performance of your Plan. We will not be liable for
                  maintain its tax status. We will notify you in writing if this occurs.
                                                                                                   errors of judgement or for any action taken or omitted to be taken by
            c)    Your signed Application and Declaration Form gives us the authority              us unless it is due to wilful default or negligence.
                  to apply to HM Revenue & Customs to reclaim on your behalf tax
                                                                                               b)   These provisions do not affect any duty which we have under the
                  credits on dividends from investments held within the Plan. This may
                                                                                                    Financial Services and Markets Act 2000, the FCA Handbook or
                  mean that we will conduct appeals against and agree liabilities for
                                                                                                    the Regulations.
                  and reliefs from tax in respect of the Plan. From 6 April 2004 ISA
                  managers have not been able to claim a tax credit on dividends from
                                                                                               22. Assignment, Transfer or Charge
                  UK shares held within an ISA. Nor can we reclaim any tax related to
                  tax credits attaching to foreign income dividends.                               You must not assign, transfer or charge any beneficial or other
                                                                                                   interests in your Plan to any other person, including using your Plan
                  We will make returns to HM Revenue & Customs, as we are required to              as security for a loan.
                  do by law. You do not need to declare your Plan on your tax return.
                                                                                               23. Company Information and Voting
            15. Fees and Charges                                                                   Please contact us if you wish to receive the interim and final long or
            a) Charges may be varied within set limits. You will be notified in writing             short report and accounts or any other information issued to
                60 days in advance of any changes to these charges.                                shareholders of the Company, or if you wish to attend or vote at
            b)    The annual management charge on the Fund will be calculated on a                 shareholders meetings of the Company.
                  per day basis and paid each month in arrears.
                                                                                               24. Complaints
            16. Dilution Levy                                                                      Should you ever wish to complain, please write to our Managing
                We do not currently charge a dilution levy on investments made                     Director at the following address:
                through our ISA. Any change to this policy would be notified to                      RBS Collective Investment Funds Limited
                investors. We do reserve the right to make such a charge on any                     PO Box 6795
                direct investment into the Company outside of an ISA as detailed                    Brentwood CM15 8WA
                in the Prospectus.
                                                                                                    In accordance with FCA’s Regulations a copy of our complaints
            17. SDRT                                                                                procedure is available on request. If your complaint is
                                                                                                    not dealt with to your satisfaction you can then complain to the
                The company will not pay Stamp Duty Reserve Tax (SDRT) as any
                                                                                                    Financial Ombudsman Service (address available on request).
                liability is currently met by the Authorised Corporate Director (ACD).
                                                                                                    Making a complaint will not prejudice your right to take legal
                Any change to this policy would be notified to investors.
                                                                                                    proceedings.
            18. Pricing
                                                                                               25. Financial Services Compensation Scheme
            a) The price of shares is calculated every working day as at 12 midday.
                                                                                                   RBS Collective Investment Funds Limited is a member of the Financial
                Shares in the Fund are bought and sold at the same price which
                                                                                                   Services Compensation Scheme (FSCS). The Scheme can pay
                represents the mid-market price of the underlying assets of the Fund.
                                                                                                   compensation to customers if they are eligible and a regulated firm is
                The price of shares is calculated by taking the total value of assets
                                                                                                   unable to pay claims against it, usually if the firm stops trading or is
                representing each class of shares of the Fund, less the liabilities
                                                                                                   insolvent. Compensation limits apply depending on the type of claim:
                attributed to that class and dividing by the number of shares of that
                                                                                                   For investments, you are covered for a maximum of £50,000, i.e.
                class in issue. This is the net asset value of the share.
                                                                                                   100% of first £50,000 per person. Most retail consumers (this includes
            b)    Prices are quoted daily in the Financial Times.                                  private individuals and some small businesses) are eligible under
                                                                                                   the Scheme. For further information on the conditions governing
                                                                                                   compensation and details on how to apply please refer to the
                                                                                                   FSCS at www.fscs.org.uk

                                                                                                                                                                           15

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26. Correspondence                                                            c)   by giving you 30 days’ prior written notice where we have changed                 W
            a) We will send any notices or other correspondence to the address                 or introduced new systems, methods of operation, services or
                                                                                                                                                                                 Y
                you have given us in your application form, or to a new permanent              facilities. Such amendments will only be made if we have satisfied
                residential address provided you have notified us in writing of                 ourselves that the overall effect of the amendments mean that you
                the change.                                                                    receive broadly comparable terms for the ISA under the revised
                                                                                               Terms and Conditions.
            b)    You should send any notices, instructions, or requests for further
                  information, to us at:                                                  d)   without giving notice to you providing we have satisfied ourselves that
                                                                                               the effect of the amendments mean that you receive no less
                  RBS Collective Investment Funds Limited                                      favourable terms for the ISA under the revised Terms and Conditions.              Y
                  PO Box 6795
                  Brentwood CM15 8WA                                                      29. Transfer of business by us to another firm
            27. Third party rights                                                        a) You agree that we may transfer (subject to any necessary regulatory
                Nothing in the Terms and Conditions confers or purports to confer on          approval) our rights and obligations under this contract to another
                any third party any benefit or any right to enforce any term of these          company provided we give you no less than 30 days’ prior
                Terms and Conditions.                                                         written notice.
                                                                                          b)   We may appoint another company to be the Plan Manager of
            28. Changes to these Terms and Conditions                                          your ISA under these Terms and Conditions having given you one
                We may vary these Terms and Conditions;                                        month’s prior written notice. The new Plan Manager must be
            a)    by giving you 60 days’ prior written notice where we increase                approved to act as an ISA Plan Manager by the Commissioners
                  our charges. This may be required if the cost of managing your               of HM Revenue & Customs.
                  Investment increases.
                                                                                          30. Applicable Law
            b)    by giving you 30 days’ prior written notice where possible, if for          English law governs both the Plan and all our dealings relating to it.
                  example it is necessary to comply with or anticipate any changes
                  in applicable laws, rules or regulations, or for example to take into   31. Language
                  account a ruling by a Court, Ombudsman, regulator or similar body.
                                                                                              This contract is supplied in English. We will continue to communicate
                                                                                              with you in English for the duration of this contract.

            16

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Who we are                                                                      Fraud prevention agencies
            Your Investment is with RBS Collective Investment Funds Limited. We are a      If false or inaccurate information is provided and fraud is identified or
            member of The Royal Bank of Scotland Group (the Group). For information        suspected, details may be passed to fraud prevention agencies.
            about our Group of companies please visit www.rbs.com and click on
                                                                                           Law enforcement agencies may access and use this information. We and
            ‘About Us’, or for similar enquiries please telephone 0131 556 8555 or
                                                                                           other organisations may also access and use this information to prevent
            Minicom 0845 900 5960.
                                                                                           fraud and money laundering, for example when:
            How we use your information and who we share it with
                                                                                           – checking applications, and managing credit or other facilities and
            Your electronic information                                                      recovering debt;
            If you contact us electronically, we may collect your electronic identifier     – checking insurance proposals and claims;
            (e.g. Internet Protocol (IP) address or telephone number), supplied by
                                                                                           – checking details of job applicants and employees.
            your service provider. Your information comprises all the details we hold
            about you and your transactions, and includes information obtained from        We, and other organisations that may access and use information
            third parties.                                                                 recorded by fraud prevention agencies, may do so from other countries.
            We may use and share your information with other members of the Group          We can provide the names and addresses of the credit reference and fraud
            to help us and them:                                                           prevention agencies we use if you would like a copy of your information
                                                                                           held by them. Please contact 0845 300 2585 or Minicom 0800 484 6161.
            – assess financial and insurance risks;
                                                                                           The agencies may charge a fee.
            – recover debt;
                                                                                           Terms of Business
            – prevent and detect crime;
                                                                                           The Financial Conduct Authority (FCA) requires firms regulated by it, to
            – understand our customers’ requirements;                                      classify customers with whom they intend to transact investment business,
                                                                                           to ensure that the appropriate level of regulatory protection is provided.
            – develop and test products and services.
                                                                                           We will treat all our customers as retail clients with the aim of ensuring
            We do not disclose your information to anyone outside the Group except:        that everyone receives the highest level of protection possible.
            – where we have your permission; or                                            The Bank will, where necessary, contact you by telephone between the
                                                                                           hours of 9.00am–9.00pm (Monday to Saturday). Calls will only be made
            – where we are required or permitted to do so by law; or
                                                                                           outside this time with your prior consent. You will be deemed to have
            – to credit reference and fraud prevention agencies and other companies        accepted these Terms of Business once you have received this document.
              that provide a service to us or you; or
            – where we may transfer rights and obligations under this agreement.
            We may disclose your information to government entities or regulatory
            bodies in order that those entities may discharge their responsibilities and
            obligations or exercise their powers or functions.
            We may transfer your information to other countries on the basis that
            anyone to whom we pass it provides an adequate level of protection.
            However, such information may be accessed by law enforcement agencies
            and other authorities to prevent and detect crime and comply with legal
            obligations.
            From time to time we may change the way we use your information.
            Where we believe you may not reasonably expect such a change we shall
            write to you. If you do not object to the change within 60 days, you
            consent to that change.
            If you would like a copy of the information we hold about you, please write
            to: The Chief Operating Office, SAR Team, Ground Floor, RBS Gogarburn,
            PO Box 1000, Edinburgh EH12 1HQ. A fee may be payable.

                                                                                                                                                                      17

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T
                                                                                                                                                                                         T
                                                                                                                                                                                         I
                                                                                                                                                                                         K
                                                                                                                                                                                         S
                                                                                                                                                                                         F

            RBS Collective Investment Funds Limited. Registered in Scotland No. SC46694. Registered Office: 24-25 St Andrew Square, Edinburgh EH2 2YB.
            Authorised and regulated by the Financial Conduct Authority. Financial Services Register Number 122139.
                                                                                                                                                         NWB6821 December 2013

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