Published on 10/31/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1 million 11.75% reverse convertibles linked to NYSE
New York, Oct. 31 - ABN Amro Bank NV priced $1 million of 11.75% Knock-In Reverse Exchangeable notes due April 30, 2008 linked to NYSE Euronext stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless NYSE stock falls below the protection price, 75% of the initial price of $91.20, during the life of the notes and finishes below the initial price in which case the payout will be 10.965 shares of NYSE stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | NYSE Euronext
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Amount: | $1 million
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Maturity: | April 30, 2008
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Coupon: | 11.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless NYSE stock falls below the protection price, 75% of the initial price, and finishes below the initial price, in which case 10.965 shares of NYSE stock.
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Initial price: | $91.20
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Exchange ratio: | 10.965
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | ABN Amro Inc.
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Agent fee: | 2.5%
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