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Rabo to issue 10.9% knock-in reverse convertibles linked to Whole Foods
By Angela McDaniels
Seattle, Sept. 18 - Rabo Financial Products BV plans to price an issue of 10.9% knock-in reverse convertible notes due Oct. 1, 2007 linked to the common stock of Whole Foods Market, Inc., according to the agent for the deal, LaSalle Financial Services Inc.
Interest will be paid quarterly.
The pricing date will be Sept. 26 with settlement on Sept. 29.
The payout at maturity will be determined according to the performance of Whole Foods stock. If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Whole Foods shares equal to $1,000 divided by the initial stock price. The knock-in price will be 75% of the initial price.
Otherwise, the payout at maturity will be par in cash.
The notes will be callable quarterly at par.
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