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LaSalle to price 10.5% reverse convertibles linked to Schlumberger for Rabo
By Angela McDaniels
Seattle, Oct. 2 - LaSalle Financial Services Inc. said it will price an issue of 10.5% knock-in reverse convertible notes due Oct. 30, 2007 linked to the common stock of Schlumberger Ltd. for issuer Rabo Financial Products BV.
Interest will be paid quarterly.
The pricing date will be Oct. 25 with settlement on Oct. 30.
The payout at maturity will be determined according to the performance of Schlumberger stock:
• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Schlumberger shares equal to $1,000 divided by the initial share price. The knock-in price will be 80% of the initial share price;
• Otherwise, the payout at maturity will be par in cash.
The notes will be callable quarterly at par.
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