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RBS plans 11% reverse exchangeables linked to Goldman Sachs stock
By Jennifer Chiou
New York, May 5 - Royal Bank of Scotland NV plans to price 11% annualized Knock-In Reverse Exchangeable notes due Nov. 30, 2010 linked to Goldman Sachs Group, Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Goldman Sachs shares fall below 75% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Goldman Sachs shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 25 and settle on May 28.
RBS Securities Inc. is the agent.
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