New Issue: ABN Amro sells $2.25 million 11.25% Knock-in Reverse Exchangeables linked to Cemex

By Jennifer Chiou

New York, Aug. 8 - ABN Amro Bank NV priced $2.25 million of 11.25% annualized Knock-in Reverse Exchangeable notes due Nov. 8, 2007 linked to the American Depositary Shares of Cemex Corp., according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Cemex ADSs. If the ADSs trade at or below $26.89, the knock-in price, and closes below $31.64, the initial price, during the life of the notes, investors will receive a number of Cemex ADSs equal to $1,000 divided by the initial price. The knock-in price is 85% of the initial price.

Otherwise, investors will receive par in cash.

ABN Amro Inc. is agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable notes
Underlying asset:	American Depositary Shares of Cemex Corp.
Amount:	$2.25 million
Maturity:	Nov. 8, 2007
Coupon:	11.25% annualized, payable monthly
Price:	Par
Payout at maturity:	If Cemex ADSs fall below the knock-in price during the life of the notes and finishes below the initial price, a number of Cemex ADSs equal to $1,000 divided by the initial price; otherwise, par in cash
Initial price:	$31.64
Knock-in price:	$26.89, 85% of initial price
Exchange ratio:	31.606 ADSs, at maturity
Pricing date:	Aug. 3
Settlement date:	Aug. 8
Agent:	ABN Amro Inc.
Fees:	1.625%
Distribution:	Off shelf

© 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.