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Rabobank to price 16.2% knock-in reverse convertibles linked to Moody's
By Susanna Moon
Chicago, July 26 - Rabobank said it plans to price an issue of 16.2% knock-in reverse convertible notes due Feb. 8, 2008 linked to Moody's Corp. common stock.
Interest is payable monthly.
The payout at maturity will be par unless the stock falls below its knock-in-price - 85% of the initial price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Moody's shares equal to stock redemption price.
The notes will price on Aug. 3 and settle on Aug. 8.
LaSalle Financial Services, Inc. is the agent for the offering.
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