Published on 1/22/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.3 million 11.4% reverse convertibles linked to AT&T
New York, Jan. 22 - ABN Amro Bank NV priced $0.3 million of 11.4% Knock-In Reverse Exchangeable notes due Jan. 26, 2010 linked to AT&T Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless AT&T shares fall below the protection price of $15.47, 60% of the initial price of $25.79, during the life of the notes and finish below the initial price in which case the payout will be 38.775 shares of AT&T 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: | AT&T Inc. (Symbol: T)
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Amount: | $0.3 million
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Maturity: | Jan. 26, 2010
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Coupon: | 11.4%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless AT&T shares fall below the protection price of $15.47, 60% of the initial price, and finish below the initial price, in which case 38.775 shares of AT&T stock
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Initial price: | $25.79
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Protection price: | $15.47, 60% of $25.79
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Exchange ratio: | 38.775
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Pricing date: | Jan. 21
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Settlement date: | Jan. 26
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Agent: | ABN Amro Inc.
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Fees: | 3%
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