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RBS to price 11.25% reverse convertibles linked to Lincoln National
By Susanna Moon
Chicago, March 2 - Royal Bank of Scotland NV plans to price 11.25% annualized Knock-In Reverse Exchangeable Securities due Sept. 17, 2010 based on Lincoln National Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Lincoln National shares fall below 75% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of Lincoln National shares equal to $1,000 divided by the initial price.
The notes are expected to price on March 12 and settle on March 17.
RBS Securities Inc. is the agent.
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