Published on 10/31/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2.2 million 17.25% reverse convertibles linked to Under Armour
New York, Oct. 31 - ABN Amro Bank NV priced $2.2 million of 17.25% Knock-In Reverse Exchangeable notes due April 30, 2008 linked to Under Armour, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Under Armour stock falls below the protection price, 70% of the initial price of $59.57, during the life of the notes and finishes below the initial price in which case the payout will be 16.787 shares of Under Armour 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: | Under Armour, Inc.
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Amount: | $2.2 million
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Maturity: | April 30, 2008
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Coupon: | 17.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Under Armour stock falls below the protection price, 70% of the initial price, and finishes below the initial price, in which case 16.787 shares of Under Armour stock.
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Initial price: | $59.57
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Exchange ratio: | 16.787
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Agent: | ABN Amro Inc.
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Agent fee: | 2.5%
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