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Rabo plans issue of 15% reverse convertibles linked to NYSE Group
By Angela McDaniels
Seattle, Sept. 11 - Rabo Financial Products BV plans to price an issue of 15% knock-in reverse convertible notes due Sept. 27, 2007 linked to NYSE Group, Inc. stock, according to the agent for the deal, LaSalle Financial Services Inc.
Interest will be payable quarterly.
The pricing date will be Sept. 22 with settlement on Sept. 27.
Payment at maturity will be determined according to the performance of NYSE Group stock. If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of NYSE Group shares equal to $1,000 divided by the initial stock price. The knock-in price will be 70% of the initial price. Otherwise, investors will receive par in cash.
The convertibles will be callable quarterly at par.
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