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RBS to price 17.75% reverse exchangeables linked to Lincoln National
By Jennifer Chiou
New York, May 14 - Royal Bank of Scotland NV plans to price 17.75% annualized Knock-In Reverse Exchangeable notes due Aug. 31, 2010 linked to Lincoln National Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Lincoln National shares fall below 75% 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 Lincoln National shares equal to $1,000 divided by the initial price.
The notes are expected to price on May 25 and settle on May 28.
RBS Securities Inc. is the agent.
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