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RBS to price 14.25% reverse convertibles linked to Joy Global
New York, Oct. 18 - Royal Bank of Scotland NV plans to price 14.25% Knock-In Reverse Exchangeable notes due April 29, 2011 linked to Joy Global Inc. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Joy Global shares fall below 75% 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 Joy Global shares equal to $1,000 divided by the initial price.
The notes are expected to price on Oct. 26 and settle on Oct. 29.
RBS Securities Inc. is the agent.
The Cusip number is 78009KNH1.
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