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Rabo to price 10.9% reverse convertibles linked to WCI Communities via LaSalle
By Jennifer Chiou
New York, March 26 - Rabo Financial Products BV plans to price 10.9% annualized reverse convertible notes due Oct. 11, 2007 linked to WCI Communities, Inc. common stock, according to a term sheet.
Interest will be payable monthly.
The payout at maturity will be par unless WCI Communities stock falls below the knock-in price - 75% 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 WCI Communities shares equal to $1,000 divided by the initial share price.
The notes will price on April 5 and settle on April 11.
LaSalle Financial Services, Inc. will be the lead agent.
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