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RBS to price 11% reverse convertibles linked to Research in Motion
New York, Aug. 12 - Royal Bank of Scotland NV plans to price 11% Knock-In Reverse Exchangeable notes due Feb. 28, 2011 linked to Research In Motion Ltd. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Research in Motion shares fall below 70% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Research in Motion shares equal to $1,000 divided by the initial price.
The notes are expected to price on Aug. 26 and settle on Aug. 31.
RBS Securities Inc. is the agent.
The Cusip number is 78009KLS9.
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