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Rabo to price 12% three-month reverse convertibles linked to Southern Copper via LaSalle
By E. Janene Geiss
Philadelphia, March 19 - Rabo Financial Products BV plans to price an issue of 3% (12% annual equivalent) reverse convertible notes due July 5, 2007 linked to Southern Copper Corp. common stock, according to a term sheet.
Interest will be payable monthly.
The payout at maturity will be par unless Southern Copper stock falls below the knock-in price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Southern Copper shares equal to $1,000 divided by the initial share price.
The notes will price March 30 and settle April 4.
LaSalle Financial Services, Inc. will be the lead agent.
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