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RBS to price 11% reverse convertibles linked to Southern Copper
New York, Feb. 17 - Royal Bank of Scotland NV plans to price 11% Knock-In Reverse Exchangeable notes due Aug. 31, 2010 linked to Southern Copper Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Southern Copper 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 Southern Copper shares equal to $1,000 divided by the initial price.
The notes are expected to price on Feb. 23 and settle on Feb. 26.
RBS Securities Inc. is the agent.
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