RBS plans 9% reverse exchangeables linked to International Paper

By Angela McDaniels

Tacoma, Wash., April 6 - Royal Bank of Scotland NV plans to price 9% annualized reverse exchangeable securities due Oct. 29, 2010 linked to the common stock of International Paper Co., according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless International Paper 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 International Paper shares equal to $1,000 divided by the initial price.

The notes are expected to price April 27 and settle April 30.

RBS Securities Inc. is the agent.

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