Published on 9/22/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.4 million 11.5% reverse convertibles linked to Alcoa
New York, Sept. 22 - ABN Amro Bank NV priced $0.4 million of 11.5% Knock-In Reverse Exchangeable notes due Sept. 24, 2009 linked to Alcoa Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Alcoa shares fall below the protection price of $17.41, 65% of the initial price of $26.79, during the life of the notes and finish below the initial price in which case the payout will be 37.327 shares of Alcoa stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
|
Issue: | Knock-In Reverse Exchangeable notes
|
Underlying stock: | Alcoa Inc. (Symbol: AA)
|
Amount: | $0.4 million
|
Maturity: | Sept. 24, 2009
|
Coupon: | 11.5%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Alcoa shares fall below the protection price of $17.41, 65% of the initial price, and finish below the initial price, in which case 37.327 shares of Alcoa stock
|
Initial price: | $26.79
|
Protection price: | $17.41, 65% of $26.79
|
Exchange ratio: | 37.327
|
Pricing date: | Sept. 19
|
Settlement date: | Sept. 24
|
Agent: | ABN Amro Inc.
|
Fees: | 4.25%
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.