Published on 4/1/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.1 million 20% reverse convertibles linked to AMR
New York, April 1 - ABN Amro Bank NV priced $0.1 million of 20% Knock-In Reverse Exchangeable notes due March 31, 2009 linked to AMR Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless AMR stock falls below the protection price of $5.17, 60% of the initial price of $8.61, during the life of the notes and finishes below the initial price in which case the payout will be 116.144 shares of AMR 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: | AMR Corp.
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Amount: | $0.1 million
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Maturity: | March 31, 2009
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless AMR stock falls below the protection price of $5.17, 60% of the initial price, and finishes below the initial price, in which case 116.144 shares of AMR stock
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Initial price: | $8.61
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Protection price: | $5.17, 60% of $8.61
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Exchange ratio: | 116.144
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 2.5%
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