New Issue: RBS prices $58,000 of 11.25% reverse exchangeables linked to Baker Hughes

By Jennifer Chiou

New York, May 12 - Royal Bank of Scotland NV priced $58,000 of 11.25% annualized Knock-In Reverse Exchangeable notes due Nov. 12, 2010 linked to Baker Hughes Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Baker Hughes shares fall below the protection price of $35.03, 75% of the initial price of $46.70, during the life of the notes and finish below the initial price in which case the payout will be 21.413 shares of Baker Hughes stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Baker Hughes Inc. (Symbol: BHI)
Amount:	$58,000
Maturity:	Nov. 12, 2010
Coupon:	11.25%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Baker Hughes shares fall below the protection price of $35.03, 75% of the initial price, and finish below the initial price, in which case 21.413 shares of Baker Hughes stock
Initial price:	$46.70
Protection price:	$35.03, 75% of $46.70
Exchange ratio:	21.413
Pricing date:	May 11
Settlement date:	May 14
Agent:	RBS Securities Inc.
Fees:	1.75%
Cusip:	78009KFV9

© 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.