RBS plans to sell 10.25% reverse exchangeables linked to Best Buy

By Marisa Wong

Madison, Wis., July 9 - Royal Bank of Scotland NV plans to price 10.25% reverse exchangeable securities due July 29, 2011 linked to the common stock of Best Buy Co., Inc., according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Best Buy shares fall below 70% 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 Best Buy shares equal to $1,000 divided by the initial price.

The notes are expected to price July 27 and settle July 30.

RBS Securities Inc. is the agent.

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