Rabobank to price 12.2% knock-in reverse convertibles linked to Caterpillar

By Susanna Moon

Chicago, Aug. 3 - Rabobank plans to price an issue of 12.2% knock-in reverse convertible notes due Feb. 15, 2008 linked to Caterpillar Inc. common stock, according to a term sheet.

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 Caterpillar shares equal to $1,000 divided by the initial stock price or, at the issuer's option, the equivalent cash value.

The notes will price on Aug. 10 and settle on Aug. 15.

LaSalle Financial Services, Inc. is the agent.

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