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Rabo to price 9.25% reverse convertibles linked to Alcoa via LaSalle
By Laura Lutz
Des Moines, Oct. 30 - Rabo Financial Products BV plans to price an issue of 9.25% reverse convertible notes due Nov. 26, 2007 linked to Alcoa Inc. common stock.
Interest will be paid quarterly.
In addition to the coupon, at maturity investors will receive par unless Alcoa stock falls below the knock-in price - 85% 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 Alcoa shares equal to $1,000 divided by the initial share price.
The notes will price on Nov. 20 and settle on Nov. 24.
LaSalle Financial Services, Inc. will be the lead agent.
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