Published on 5/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1 million 11.25% knock-in notes linked to Norfolk Southern
By Susanna Moon
Chicago, May 30 - ABN Amro Bank NV priced $1 million of 11.25% Knock-in Reverse Exchangeable Securities due Dec. 3, 2008 linked to the common stock of Norfolk Southern Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Norfolk Southern stock falls by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Norfolk Southern shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | Norfolk Southern Corp. (NYSE: NSC)
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Amount: | $1 million
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Maturity: | Dec. 3, 2008
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Coupon: | 11.25%, payable monthly
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Price: | Par
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Payout at maturity: | If Norfolk Southern stock closes below the knock-in level during the life of the notes and finishes below the initial share price, 14.959 Norfolk Southern shares; otherwise, par
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Initial share price: | $66.85
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Knock-in level: | $50.14, or 75% of initial share price
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Pricing date: | May 29
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Settlement date: | June 3
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Agent: | ABN Amro Inc.
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