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RBS to price 11.5% reverse convertibles linked to Boeing
New York, July 9 - Royal Bank of Scotland NV plans to price 11.5% Knock-In Reverse Exchangeable notes due Jan. 31, 2011 linked to Boeing Co. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Boeing 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 Boeing shares equal to $1,000 divided by the initial price.
The notes are expected to price on July 27 and settle on July 30.
RBS Securities Inc. is the agent.
The Cusip number is 78009KKF8.
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