Filed under Rule 424(b)(3), Registration Statement Nos. 333-162219, 333-162219-01
Preliminary Pricing Supplement No. 1 – dated November 8, 2010 (to: Prospectus dated May 18, 2010 and Prospectus Supplement dated September 20, 2010)
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CUSIP
Number
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Aggregate
Principal
Amount
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Price to
Public
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Selling
Commission
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Net
Proceeds
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Coupon
Type
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Coupon
Rate
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Coupon
Frequency
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Maturity
Date
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1st Coupon
Date
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1st Coupon
Amount
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Survivor’s Option
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Product Ranking
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78011RAA1
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$
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100%
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1.70%
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$
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FIXED
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3.75% (per annum)
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SEMI-ANNUAL
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11/15/2017
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5/15/2011
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$18.54
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NO
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SENIOR
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Redemption Information: Non-Callable/Non-Puttable
Lead Manager and Lead Agent: RBS Securities Inc.
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||
 The Royal Bank of Scotland plc
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Offering Dates: 11/8/2010 through 11/15/2010
Trade Date: 11/15/2010 @ 12:00 PM ET
Settlement Date: 11/18/2010
Minimum Denomination/Increments: $1,000.00/$1,000.00
Guaranteed in full by The Royal Bank of Scotland Group plc
Initial trades settle flat and clear SDFS: DTC Book-Entry only
DTC Number 0235 via RBC Dain Rauscher Inc.
If the maturity date or an interest payment date for any note is not a business day (as that term is defined in the prospectus supplement), principal, premium, if any, and interest for that note is paid on the next business day, and no interest will accrue from, and after, the maturity date or interest payment date.
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Royal Bank of Scotland plc
Retail Corporate Notes
Prospectus dated May 18, 2010
and Prospectus Supplement dated September 20, 2010
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