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Rabo to price 12.75% reverse convertibles linked to Apple via LaSalle
By Laura Lutz
Washington, Jan. 29 - Rabo Financial Products BV plans to price an issue of 12.75% reverse convertible notes due Aug. 14, 2007 linked to Apple Computer, Inc. common stock, according to a term sheet.
Interest will be payable monthly.
The payout at maturity will be par unless Apple stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
The notes will price on Feb. 9 and settle on Feb. 14.
LaSalle Financial Services, Inc. will be the lead agent.
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