Published on 7/30/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.175 million 11.5% reverse convertibles linked to Starbucks
New York, July 30 - ABN Amro Bank NV priced $1.175 million of 11.5% reverse convertible notes due Oct. 31, 2007 linked to Starbucks Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Starbucks stock falls below the protection price, 90% of the initial price of $27.43, during the life of the notes and finishes below the initial price in which case the payout will be 36.456 shares of Starbucks stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse convertible notes
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Underlying stock: | Starbucks Corp.
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Amount: | $1.175 million
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Maturity: | Oct. 31, 2007
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Coupon: | 11.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Starbucks stock falls below the protection price, 90% of the initial price, and finishes below the initial price, in which case 36.456 shares of Starbucks stock.
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Initial price: | $27.43
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Exchange ratio: | 36.456
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Pricing date: | July 26
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Agent fee: | 1.375%
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