Published on 12/14/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $500,000 8.1% reverse exchangeables linked to Pfizer
By Jennifer Chiou
New York, Dec. 14 - ABN Amro Bank NV priced $500,000 of 8.1% Knock-in Reverse Exchangeable Securities due Dec. 24, 2008 linked to Pfizer Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Pfizer stock falls below the protection price of $17.73, 75% of the initial price of $23.64, during the life of the notes and finishes below the initial price, in which case the payout will be 42.301 shares of Pfizer stock.
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: | Pfizer Inc. (NYSE: PFE)
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Amount: | $500,000
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Maturity: | Dec. 24, 2008
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Coupon: | 8.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Pfizer stock falls below the protection price of $17.73, 75% of the initial price, and finishes below the initial price, in which case 42.301 shares of Pfizer stock
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Initial price: | $23.64
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Protection price: | $17.73, 75% of $23.64
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Exchange ratio: | 42.301
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Pricing date: | Dec. 13
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Settlement date: | Dec. 24
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Agent: | ABN Amro Inc.
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