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Rabo to price 33% reverse convertibles linked to InterOil
By Angela McDaniels
Seattle, May 1 - Rabo Financial Products BV plans to price an offering of knock-in reverse convertible notes due Aug. 16, 2007 linked to the common stock of InterOil Corp., according to a term sheet.
The three-month notes will pay 8.25% for an annualized rate of 33%. Interest will be payable monthly.
The payout at maturity will be par unless InterOil stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of InterOil shares equal to $1,000 divided by the initial share price.
The notes will price on May 11 and settle on May 16.
LaSalle will be the distributor.
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