Rabo to price 15.5% knock-in reverse convertibles linked to Vertex Pharmaceuticals via LaSalle

By Jennifer Chiou

New York, May 22 - Rabo Financial Products BV plans to price 15.5% knock-in reverse convertible notes due May 30, 2008 linked to Vertex Pharmaceuticals Inc. common stock, according to a term sheet.

Interest will be payable monthly.

In addition to the coupon, at maturity investors will receive par unless Vertex Pharmaceuticals stock falls below the knock-in price - 65% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Vertex Pharmaceuticals shares equal to $1,000 divided by the initial share price.

The notes will price on May 24 and settle on May 30.

LaSalle Financial Services, Inc. is the agent.

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