Rabo Financial plans issue of 16.5% knock-in reverse convertibles linked to Apple Computer

By Jennifer Chiou

New York, Aug. 21 - Rabo Financial Products BV plans to price an issue of 16.5% knock-in reverse convertible notes due Dec. 7, 2006 linked to Apple Computer, Inc. stock, according to a term sheet.

Interest will be payable quarterly.

The notes will be priced on Sept. 1 and will settle on Sept. 7.

Payment at maturity will be determined according to the performance of Apple Computer stock. If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Apple Computer shares equal to $1,000 divided by the initial stock price. The knock-in price will be 80% of the initial price. Otherwise, investors will receive par in cash.

The notes will be rated Prime-1/A-1+.

LaSalle Financial Services Inc. will be the agent.

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