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RBS to price 12.25% reverse convertibles linked to SanDisk
New York, Dec. 13 - Royal Bank of Scotland NV plans to price 12.25% Knock-In Reverse Exchangeable notes due June 30, 2011 linked to SanDisk Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SanDisk 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 SanDisk shares equal to $1,000 divided by the initial price.
The notes are expected to price on Dec. 28 and settle on Dec. 31.
RBS Securities Inc. is the agent.
The Cusip number is 78009KPU0.
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