Published on 7/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.4 million 8.5% reverse convertibles linked to Patterson
New York, July 30 - ABN Amro Bank NV priced $0.4 million of 8.5% Knock-In Reverse Exchangeable notes due July 31, 2009 linked to Patterson Cos., Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Patterson shares fall below the protection price of $21.77, 70% of the initial price of $31.10, during the life of the notes and finish below the initial price in which case the payout will be 32.154 shares of Patterson 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: | Patterson Cos., Inc. (Symbol: PDCO)
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Amount: | $0.4 million
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Maturity: | July 31, 2009
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Coupon: | 8.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Patterson shares fall below the protection price of $21.77, 70% of the initial price, and finish below the initial price, in which case 32.154 shares of Patterson stock
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Initial price: | $31.10
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Protection price: | $21.77, 70% of $31.10
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Exchange ratio: | 32.154
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Fees: | 4.25%
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