New Issue: RBS prices $267,000 19.25% reverse exchangeables linked to Patriot Coal

By E. Janene Geiss

Philadelphia, March 30 - Royal Bank of Scotland NV priced $267,000 of 19.25% annualized Knock-in Reverse Exchangeable Securities due June 30, 2010 linked to Patriot Coal Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The payout at maturity will be par unless the stock falls below the knock-in price - 70% of the initial share price - during the life of the notes and finishes below the initial share price, in which case investors will receive a number of Patriot Coal shares equal to $1,000 divided by the initial share price.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Patriot Coal Corp. (Symbol: PCX)
Amount:	$267,000
Maturity:	June 30, 2010
Coupon:	19.25%, payable monthly
Price:	Par
Payout at maturity:	If the stock dips below knock-in price during life of notes and finishes below initial share price, 50.607 Patriot Coal shares; otherwise, par
Initial share price:	$19.76
Knock-in price:	$13.83, 70% of initial share price
Pricing date:	March 26
Settlement date:	March 31
Agent:	RBS Securities Inc.
Fees:	1.625%
Cusip:	78009KDL3

© 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.