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Rabo to price 22.7% knock-in reverse convertibles linked to Netflix via LaSalle
By Jennifer Chiou
New York, July 9 - Rabo Financial Products BV plans to price 22.7% annualized knock-in reverse convertible notes due Oct. 25, 2007 linked to Netflix Inc. common stock, according to a term sheet.
Interest will be payable monthly.
In addition to the coupon, at maturity investors will receive par unless Netflix 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 Netflix shares equal to $1,000 divided by the initial share price.
The notes will price on July 20 and settle on July 25.
LaSalle Financial Services, Inc. is the agent.
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