Published on 9/14/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2 million 11.7% reverse convertibles linked to Yahoo!
By Susanna Moon
Chicago, Sept. 14 - ABN Amro Bank NV priced $2 million of 11.7% reverse convertible notes due March 14, 2008 linked to Yahoo! Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless Yahoo! stock falls below the knock-in price, or 70% of the initial price of $23.71, during the life of the notes and finishes below the initial price, in which case the payout will be 42.18 shares of Yahoo! stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
|
Issue: | Reverse convertible notes
|
Underlying stock: | Yahoo! Inc. (Nasdaq: YHOO)
|
Amount: | $2 million
|
Maturity: | March 14, 2008
|
Coupon: | 11.7%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless Yahoo! stock falls below the protection price, 70% of the initial price, and finishes below the initial price, in which case 42.18 shares of Yahoo! stock
|
Initial price: | $23.71
|
Knock-in price: | $16.60, or 70% of the initial price
|
Exchange ratio: | 42.18
|
Pricing date: | Sept. 11
|
Settlement date: | Sept. 14
|
Agent: | ABN Amro Inc.
|
Fees: | 1.6%
|
© 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.