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RBS to price 11% reverse convertibles linked to Wells Fargo
New York, Nov. 10 - Royal Bank of Scotland NV plans to price 11% Knock-In Reverse Exchangeable notes due May 30, 2011 linked to Wells Fargo & Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Wells Fargo shares fall below 80% 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 Wells Fargo shares equal to $1,000 divided by the initial price.
The notes are expected to price on Nov. 23 and settle on Nov. 30.
RBS Securities Inc. is the agent.
The Cusip number is 78009KNV0.
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