New Issue: RBS prices $235,000 13.75% reverse convertibles linked to Goodyear Tire

New York, Nov. 24 - Royal Bank of Scotland NV priced $235,000 of 13.75% Knock-In Reverse Exchangeable notes due Feb. 28, 2011 linked to the Goodyear Tire & Rubber Co. index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Goodyear Tire shares fall below the protection price of $7.97, 80% of the initial price of $9.96, during the life of the notes and finish below the initial price in which case the payout will be 100.402 shares of Goodyear Tire stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Goodyear Tire & Rubber Co. (Symbol: GT)
Amount:	$235,000
Maturity:	Feb. 28, 2011
Coupon:	13.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Goodyear Tire shares fall below the protection price of $7.97, 80% of the initial price, and finish below the initial price, in which case 100.402 shares of Goodyear Tire stock
Initial price:	9.96
Protection price:	$7.97, 80% of $9.96
Exchange ratio:	100.402
Pricing date:	Nov. 23
Settlement date:	Nov. 30
Agent:	RBS Securities Inc.
Fees:	1.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.