RBS certificates 'guarantee outperformance' against gold and silver

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RBS offers German investors exposure to gold at a discount

Royal Bank of Scotland (RBS) has launched a range of Uncapped Discount certificates in Germany linked to gold, silver or the Dax index.

The certificates allow investors to invest in gold, silver or the Dax at a discounted price, while at maturity the products are redeemed at 100% of the spot value without any limitation.

The Dax and Gold certificates pay a quarterly coupon at an annualised rate of 1%. The Silver certificates pay an annualised 2.5% coupon based on the issuance price.

"With the Un

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