Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 16% reverse convertibles linked to Lehman Brothers
New York, April 30 - ABN Amro Bank NV priced $0.5 million of 16% Knock-In Reverse Exchangeable notes due April 30, 2009 linked to Lehman Brothers Holding Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Lehman Brothers stock falls below the protection price of $28.12, 60% of the initial price of $46.87, during the life of the notes and finishes below the initial price in which case the payout will be 21.336 shares of Lehman Brothers 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: | Lehman Brothers Holding Inc. (NYSE: LEH)
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Amount: | $0.5 million
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Maturity: | April 30, 2009
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Coupon: | 16%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Lehman Brothers stock falls below the protection price of $28.12, 60% of the initial price, and finishes below the initial price, in which case 21.336 shares of Lehman Brothers stock
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Initial price: | $46.87
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Protection price: | $28.12, 60% of $46.87
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Exchange ratio: | 21.336
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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: | 2.50%
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