Rabo to price 13% reverse convertibles linked to Countrywide Financial

By E. Janene Geiss

Philadelphia, Feb. 26 - Rabo Financial Products BV plans to price an issue of reverse convertible notes due June 7, 2007 linked to Countrywide Financial Corp. common stock, according to a term sheet.

The three-month notes will pay 4.333% for an annualized rate of 13%. Interest will be payable monthly.

The payout at maturity will be par unless Countrywide Financial stock falls below the knock-in price - 90% 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 Countrywide Financial shares equal to $1,000 divided by the initial share price.

The notes will price on March 2 and settle on March 7.

LaSalle Financial Services, Inc. will be the lead agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.