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Rabo to price 17% reverse convertibles linked to Palm via LaSalle
By Laura Lutz
Washington, Dec. 4 - Rabo Financial Products BV plans to price an issue of 17% reverse convertible notes due March 13, 2007 linked to Palm, Inc. common stock.
Interest will be paid monthly.
In addition to the coupon, at maturity investors will receive par unless Palm 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 Palm shares equal to $1,000 divided by the initial share price.
The notes will price on Dec. 8 and settle on Dec. 13.
LaSalle Financial Services, Inc. will be the lead agent.
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