Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.95 million 10% reverse convertibles linked to Pfizer
New York, April 30 - ABN Amro Bank NV priced $0.95 million of 10% Knock-In Reverse Exchangeable notes due April 30, 2009 linked to Pfizer Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Pfizer stock falls below the protection price of $17.37, 85% of the initial price of $20.43, during the life of the notes and finishes below the initial price in which case the payout will be 48.948 shares of Pfizer 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: | Pfizer Inc. (NYSE: PFE)
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Amount: | $0.95 million
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Maturity: | April 30, 2009
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Pfizer stock falls below the protection price of $17.37, 85% of the initial price, and finishes below the initial price, in which case 48.948 shares of Pfizer stock
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Initial price: | $20.43
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Protection price: | $17.37, 85% of $20.43
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Exchange ratio: | 48.948
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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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