Published on 6/2/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 15.25% reverse convertibles linked to Martin Marietta
New York, June 2 - ABN Amro Bank NV priced $0.5 million of 15.25% Knock-In Reverse Exchangeable notes due Aug. 29, 2008 linked to Martin Marietta Materials, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Martin Marietta shares fall below the protection price of $94.52, 80% of the initial price of $118.15, during the life of the notes and finishes below the initial price in which case the payout will be 8.464 shares of Martin Marietta 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: | Martin Marietta Materials, Inc. (Symbol: MLM)
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Amount: | $0.5 million
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Maturity: | Aug. 29, 2008
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Coupon: | 15.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Martin Marietta stock falls below the protection price of $94.52, 80% of the initial price, and finishes below the initial price, in which case 8.464 shares of Martin Marietta stock
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Initial price: | $118.15
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Protection price: | $94.52, 80% of $118.15
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Exchange ratio: | 8.464
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Pricing date: | May 27
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Settlement date: | May 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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