Published on 5/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 13.8% reverse convertibles linked to Schering-Plough
New York, May 30 - ABN Amro Bank NV priced $0.5 million of 13.8% Knock-In Reverse Exchangeable notes due Nov. 28, 2008 linked to Schering-Plough Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Schering-Plough shares fall below the protection price of $16.06, 80% of the initial price of $20.08, during the life of the notes and finishes below the initial price in which case the payout will be 49.801shares 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. (Symbol: SGP)
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Amount: | $0.5 million
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Maturity: | Nov. 28, 2008
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Coupon: | 13.8%, 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 $16.06, 80% of the initial price, and finishes below the initial price, in which case 49.801 shares of Schering-Plough stock
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Initial price: | $20.08
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Protection price: | $16.06, 80% of $20.08
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Exchange ratio: | 49.801
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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: | 1.75%
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