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RBS to price 12.75% reverse convertibles linked to Arch Coal
By Angela McDaniels
Tacoma, Wash., March 2 - Royal Bank of Scotland NV plans to price 12.75% annualized Knock-In Reverse Exchangeable Securities due June 17, 2010 linked to the common stock of Arch Coal, Inc., according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Arch Coal 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 Arch Coal shares equal to $1,000 divided by the initial price.
The notes are expected to price March 12 and settle March 17.
RBS Securities Inc. is the agent.
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