Published on 9/28/2006 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $1 million of 8% Knock-In Reverse Exchangeables linked to Capital One
By Laura Lutz
Des Moines, Sept. 28 - ABN Amro Bank NV priced $1 million of 8% Knock-In Reverse Exchangeable notes due Sept. 29, 2007 linked to Capital One Financial Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Capital One stock. If the stock trades at or below 62.14, the knock-in price, and closes below $77.67, the initial price, between Sept. 26, 2006 and Sept. 26, 2007, investors will receive a number of Capital One shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial price.
Otherwise, investors will receive par in cash.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Capital One Financial Corp.
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Amount: | $1 million
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Maturity: | Sept. 29, 2007
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Coupon: | 8%, payable quarterly
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Price: | Par
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Payout at maturity: | If Capital One stock closes below the knock-in price during the life of the notes and finishes below the initial price, 12.875 shares of Capital One stock; otherwise, par in cash
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Initial price: | $77.67
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Knock-in price: | $62.14, 80% of initial price
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Exchange ratio: | 12.875 shares, at maturity
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Agent: | ABN Amro Inc.
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Distribution: | Off shelf
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