Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.6 million 14.5% reverse convertibles linked to Jacobs Engineering
New York, April 30 - ABN Amro Bank NV priced $0.6 million of 14.5% Knock-In Reverse Exchangeable notes due July 31, 2008 linked to Jacobs Engineering Group Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Jacobs Engineering stock falls below the protection price of $71.37, 80% of the initial price of $89.21, during the life of the notes and finishes below the initial price in which case the payout will be 11.21 shares of Jacobs Engineering 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: | Jacobs Engineering Group Inc. (NYSE: JEC)
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Amount: | $0.6 million
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Maturity: | July 31, 2008
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Coupon: | 14.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Jacobs Engineering stock falls below the protection price of $71.37, 80% of the initial price, and finishes below the initial price, in which case 11.21 shares of Jacobs Engineering stock
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Initial price: | $89.21
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Protection price: | $71.37, 80% of $89.21
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Exchange ratio: | 11.21
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Fees: | 1.625%
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