Published on 12/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $550,000 14.2% reverse exchangeables linked to Google
By E. Janene Geiss
Philadelphia, Dec. 28 - ABN Amro Bank NV priced $550,000 of 14.2% annualized Knock-In Reverse Exchangeable notes due June 30, 2008 linked to Google Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Google stock falls below the protection price of $522.52, 75% of the initial price of $696.69, during the life of the notes and finishes below the initial price in which case the payout will be 1.435 shares of Google 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: | Google Inc. (Nasdaq: GOOG)
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Amount: | $550,000
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Maturity: | June 30, 2008
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Coupon: | 14.2%, payable monthly
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Price: | Par
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Payout at maturity: | If Google shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of shares equal to $1,000 divided by the initial share price; otherwise, par
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Initial price: | $696.69
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Protection price: | $522.52, 75% of $696.69
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Exchange ratio: | 1.435
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Pricing date: | Dec. 21
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Settlement date: | Dec. 31
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Agent: | ABN Amro Inc.
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Agent fee: | 2.25%
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