This was the Royal Bank of Scotland's first commemorative banknote, and marked the European summit meeting, held in Edinburgh on 8 December 1992.
Its design was similar to the normal Ilay series notes which were in circulation at that time, but special features included:
- an engraving of the Palace of Holyroodhouse, where the meeting was held
- the date of the meeting
- a litho-printed colour version of the European Union flag
- serial numbers with the prefix EC