Published on 12/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.35 million 15.5% reverse convertibles linked to Kimberly-Clark
New York, Dec. 30 - ABN Amro Bank NV priced $0.35 million of 15.5% Knock-In Reverse Exchangeable notes due March 31, 2009 linked to Kimberly-Clark Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Kimberly-Clark shares fall below the protection price of $41.00, 80% of the initial price of $51.25, during the life of the notes and finish below the initial price in which case the payout will be 19.512 shares of Kimberly-Clark 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: | Kimberly-Clark Corp. (Symbol: KMB)
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Amount: | $0.35 million
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Maturity: | March 31, 2009
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Coupon: | 15.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Kimberly-Clark shares fall below the protection price of $41.00, 80% of the initial price, and finish below the initial price, in which case 19.512 shares of Kimberly-Clark stock
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Initial price: | $41.00
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Protection price: | $41.00, 80% of $51.25
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Exchange ratio: | 19.512
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Pricing date: | Dec. 23
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Settlement date: | Dec. 31
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Agent: | ABN Amro Inc.
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