Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.7 million 15.2% reverse convertibles linked to Schering-Plough
New York, April 30 - ABN Amro Bank NV priced $1.7 million of 15.2% Knock-In Reverse Exchangeable notes due April 30, 2009 linked to Schering-Plough Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Schering-Plough stock falls below the protection price of $13.05, 70% of the initial price of $18.64, during the life of the notes and finishes below the initial price in which case the payout will be 53.648 shares of Schering-Plough 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: | Schering-Plough Corp. (NYSE: SGP)
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Amount: | $1.7 million
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Maturity: | April 30, 2009
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Coupon: | 15.2%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Schering-Plough stock falls below the protection price of $13.05, 70% of the initial price, and finishes below the initial price, in which case 53.648 shares of Schering-Plough stock
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Initial price: | $18.64
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Protection price: | $13.05, 70% of $18.64
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Exchange ratio: | 53.648
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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: | 2.50%
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