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RBS to price 15% reverse convertibles linked to SanDisk
New York, Jan. 12 - Royal Bank of Scotland NV plans to price 15% Knock-In Reverse Exchangeable notes due July 29, 2011 linked to SanDisk Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless SanDisk shares fall below 75% 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 SanDisk shares equal to $1,000 divided by the initial price.
The notes are expected to price on Jan. 26 and settle on Jan. 31.
RBS Securities Inc. is the agent.
The Cusip number is 78009KQF2.
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