Rabo to issue 14% knock-in reverse convertibles linked to Transocean

By Angela McDaniels

Seattle, Sept. 18 - Rabo Financial Products BV plans to price an issue of 14% knock-in reverse convertible notes due March 29, 2007 linked to the common stock of Transocean Inc., according to the agent for the deal, LaSalle Financial Services Inc.

Interest will be paid quarterly.

The pricing date will be Sept. 26 with settlement on Sept. 29.

The payout at maturity will be determined according to the performance of Transocean stock. If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Transocean shares equal to $1,000 divided by the initial stock price. The knock-in price will be 80% of the initial price.

Otherwise, the payout at maturity will be par in cash.

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