CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities Offered
Maximum Aggregate Offering Price
Amount of Registration Fee (1)
Notes
$5,438,000.00
$623.20
(1) Calculated in accordance with Rule 457(r) of the Securities Act of 1933.
 
Filed under Rule 424(b)(5), Registration Statement No. 333-162219
Final Pricing Supplement No. 11 dated February 15, 2012 (to: Prospectus dated September 30, 2009 and Prospectus Supplement dated November 21, 2011)
                             
                             
 
CUSIP / ISIN
Number
Aggregate
Principal
Amount
Price to
Public
Selling
Commission
Net Proceeds
Coupon
Type
Coupon
Rate
Coupon
Frequency
Maturity
Date
1st Coupon
Date
1st Coupon
Amount
Survivor's
Option
Product
Ranking
  
 
78012DAL7 /
US78012DAL73
$5,438,000.00
100.00%
1.50%
$5,356,430.00
FIXED
4.500%
per annum
MONTHLY
02/15/2017
03/15/2012
$3.00
NO
SENIOR
  
                             
                             
                             
 
Redemption Information: Non-Callable/Non-Puttable
                
                   
 
Lead Manager and Lead Agent: RBS Securities Inc.
                
                             
                             
                             
                             
                             
                             
                             
                             
                             
 
 
 
The Royal Bank of Scotland Group plc
Offering Dates: 02/13/2012 through 02/15/2012
Trade Date: 02/15/2012 @ 4:00 P.M. ET
Settlement Date: 02/21/2012
Minimum Denomination/Increments: $1,000.00/$1,000.00
Initial trades settle flat and clear SDFS: DTC Book-Entry only
DTC Number 2230 via RBS Securities 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.
 
The notes will be treated as fixed rate debt instruments for U.S. federal income tax purposes.
 
Davis Polk & Wardwell LLP, New York, New York, will pass upon the validity of the notes and will rely as to all matters of Scots law on the opinion of Dundas & Wilson CS LLP, Edinburgh, Scotland.
The Royal Bank of Scotland Group plc
Retail Corporate Notes
Prospectus dated September 30, 2009
and Prospectus Supplement dated November 21, 2011