Rabo to price 12% reverse convertibles linked to Grant Prideco via LaSalle

By Laura Lutz

Des Moines, Dec. 18 - Rabo Financial Products BV plans to price an issue of 12% reverse convertible notes due Dec. 27, 2007 linked to Grant Prideco, Inc. common stock.

Interest will be payable monthly.

In addition to the coupon, at maturity investors will receive par unless Grant Prideco 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 Grant Prideco shares equal to $1,000 divided by the initial share price.

The notes will price on Dec. 21 and settle on Dec. 27.

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

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