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Rabo plans issue of 10.2% reverse convertibles linked to eBay
By Angela McDaniels
Seattle, Sept. 5 - Rabo Financial Products BV plans to price an issue of 10.2% knock-in reverse convertible notes due Sept. 20, 2007 linked to eBay Inc. stock, according to the agent for the deal, LaSalle Financial Services Inc.
Interest will be paid quarterly.
The pricing date will be Sept. 15 with settlement on Sept. 20.
Payment at maturity will be determined according to the performance of eBay stock. If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of eBay shares equal to $1,000 divided by the initial stock price. The knock-in price will be 65% of the initial price. Otherwise, investors will receive par in cash.
The notes are callable quarterly at par.
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