New Issue: RBS prices $725,000 of 21.75% reverse exchangeables linked to Lincoln National

By E. Janene Geiss

Philadelphia, May 26 - Royal Bank of Scotland NV priced $725,000 million of 21.75% annualized Knock-In Reverse Exchangeable notes due Aug. 31, 2010 linked to Lincoln National Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Lincoln National shares fall below the protection price of $19.25, 75% of the initial price of $25.67, during the life of the notes and finish below the initial price in which case the payout will be 38.956 shares of Lincoln National stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Lincoln National Corp. (Symbol: LNC)
Amount:	$725,000
Maturity:	Aug. 31, 2010
Coupon:	21.75%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Lincoln National shares fall below the protection price of $19.25, 75% of the initial price, and finish below the initial price, in which case 38.956 shares of Lincoln National stock
Initial price:	$25.67
Protection price:	$19.25, 75% of $25.67
Exchange ratio:	38.956
Pricing date:	May 25
Settlement date:	May 28
Agent:	RBS Securities Inc.
Fees:	2.25%
Cusip:	78009KHQ8

© 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.