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RBS to price 18% reverse convertibles linked to Las Vegas Sands
New York, Feb. 17 - Royal Bank of Scotland NV plans to price 18% Knock-In Reverse Exchangeable notes due May 28, 2010 linked to Las Vegas Sands Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Las Vegas Sands shares fall below 65% 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 Las Vegas Sands shares equal to $1,000 divided by the initial price.
The notes are expected to price on Feb. 23 and settle on Feb. 26.
RBS Securities Inc. is the agent.
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