Published on 3/29/2011 in the Prospect News Structured Products Daily.
New Issue: RBS prices $75,000 15.5% reverse convertibles linked to Las Vegas Sands
New York, March 29 - Royal Bank of Scotland NV priced $75,000 of 15.5% Knock-In Reverse Exchangeable notes due Sept. 30, 2011 linked to the Las Vegas Sands Corp. index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price of $29.27, 70% of the initial price of $41.82, during the life of the notes and finish below the initial price in which case the payout will be 23.912 shares of Las Vegas Sands stock.
RBS Securities Inc. is the agent.
Issuer: | Royal Bank of Scotland NV
|
Issue: | Knock-In Reverse Exchangeable notes
|
Underlying stock: | Las Vegas Sands Corp. (Symbol: LVS)
|
Amount: | $75,000
|
Maturity: | Sept. 30, 2011
|
Coupon: | 15.5%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Las Vegas Sands shares fall below the protection price of $29.27, 70% of the initial price, and finish below the initial price, in which case 23.912 shares of Las Vegas Sands stock
|
Initial price: | 41.82
|
Protection price: | $29.27, 70% of $41.82
|
Exchange ratio: | 23.912
|
Pricing date: | March 28
|
Settlement date: | March 31
|
Agent: | RBS Securities Inc.
|
Fees: | 1.75%
|
|
© 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.