Published on 5/19/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1 million 11.95% reverse exchangeables linked to iShares Emerging Markets fund
By E. Janene Geiss
Philadelphia, May 19 - ABN Amro Bank NV priced $1 million of 11.95% annualized Knock-in Reverse Exchangeable Securities due Aug. 21, 2008 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless shares of the fund fall by more than 15% during the life of the notes and finish below the initial share price, in which case the payout will be a number of shares of the fund equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the lead agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying asset: | iShares MSCI Emerging Markets index fund
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Amount: | $1 million
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Maturity: | Aug. 21, 2008
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Coupon: | 11.95%, payable monthly
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Price: | Par
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Payout at maturity: | If shares of the fund fall below the knock-in level during the life of the notes and the final share price is less than the initial share price, 6.447 shares of the fund; otherwise, par
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Initial share price: | $155.10
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Knock-in price: | $131.84, 85% of initial share price
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Pricing date: | May 16
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Settlement date: | May 21
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Agent: | ABN Amro Inc.
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