Published on 3/9/2010 in the Prospect News Structured Products Daily.
New Issue: RBS prices $0.47 million 18% reverse convertibles linked to SanDisk
New York, March 9 - Royal Bank of Scotland NV priced $0.47 million of 18% Knock-In Reverse Exchangeable notes due Sept. 10, 2010 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SanDisk shares fall below the protection price of $26.73, 80% of the initial price of $33.41, during the life of the notes and finish below the initial price in which case the payout will be 29.931 shares of SanDisk stock.
RBS Securities Inc. is the agent.
| Issuer: | Royal Bank of Scotland NV
|
| Issue: | Knock-In Reverse Exchangeable notes
|
| Underlying stock: | SanDisk Corp. (Symbol: SNDK)
|
| Amount: | $0.47 million
|
| Maturity: | Sept. 10, 2010
|
| Coupon: | 18%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless SanDisk shares fall below the protection price of $26.73, 80% of the initial price, and finish below the initial price, in which case 29.931 shares of SanDisk stock
|
| Initial price: | $33.41
|
| Protection price: | $26.73, 80% of $33.41
|
| Exchange ratio: | 29.931
|
| Pricing date: | March 8
|
| Settlement date: | March 11
|
| Agent: | RBS Securities Inc.
|
| Fees: | 12.5%
|
| Cusip: | 78009KCN0
|
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