New Issue: RBS prices $1.85 million 12.5% reverse convertibles linked to Delta Air

New York, Jan. 27 - Royal Bank of Scotland NV priced $1.85 million of 12.5% Knock-In Reverse Exchangeable notes due April 29, 2011 linked to the Delta Air Lines, Inc. index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Delta Air shares fall below the protection price of $8.99, 75% of the initial price of $11.98, during the life of the notes and finish below the initial price in which case the payout will be 83.472 shares of Delta Air stock.

RBS Securities Inc. is the agent.

Issuer:	Royal Bank of Scotland NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Delta Air Lines, Inc. (Symbol: DAL)
Amount:	$1.85 million
Maturity:	April 29, 2011
Coupon:	12.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Delta Air shares fall below the protection price of $8.99, 75% of the initial price, and finish below the initial price, in which case 83.472 shares of Delta Air stock
Initial price:	11.98
Protection price:	$8.99, 75% of $11.98
Exchange ratio:	83.472
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Agent:	RBS Securities Inc.
Fees:	1.5%

© 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.