Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $2 million 12% Knock-in Reverse Exchangeables linked to JPMorgan Chase
By E. Janene Geiss
Philadelphia, April 30 - ABN Amro Bank NV priced $2 million of 12% annualized Knock-in Reverse Exchangeable Securities due April 30, 2009 linked to the common shares of JPMorgan Chase & Co., according to a 424B filing with the Securities and Exchange Commission.
If JPMorgan shares fall below the knock-in price - 70% of the initial share price - during the life of the notes and close below the initial share price, investors will receive a number of shares equal to $1,000 divided by the initial share price.
Otherwise, the payout will be par.
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: | JPMorgan Chase & Co. (NYSE: JPM)
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Amount: | $2 million
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Maturity: | April 30, 2009
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Coupon: | 12%, payable monthly
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Price: | Par
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Payout at maturity: | If the stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 20.925 JPMorgan shares; otherwise, par
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Initial share price: | $47.79
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Knock-in price: | $33.45, 70% of initial share price
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Fees: | 2.5%
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