Published on 11/29/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $350,000 30.7% knock-in notes linked to Continental
By Angela McDaniels
Tacoma, Wash., Nov. 29 - ABN Amro Bank NV priced $350,000 of Knock-in Reverse Exchangeable Securities due Feb. 29, 2008 linked to the common stock of Continental Airlines, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The three-month notes pay 7.675% for an annualized rate of 30.7%. Interest is payable monthly.
The payout at maturity will be par unless Continental stock falls by more than 25% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of Continental shares equal to par divided by the initial share price.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | Continental Airlines, Inc. (Symbol: CAL)
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Amount: | $350,000
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Maturity: | Feb. 29, 2008
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Coupon: | 30.7%, payable monthly
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Price: | Par
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Payout at maturity: | If Continental stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 37.397 Continental shares; otherwise, par
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Initial share price: | $26.74
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Knock-in price: | $20.06, 75% of initial price
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Pricing date: | Nov. 27
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Settlement date: | Nov. 30
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Agent: | ABN Amro Inc.
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Fees: | 2%
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