Published on 6/27/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 12% reverse convertibles linked to Apache
New York, June 27 - ABN Amro Bank NV priced $0.5 million of 12% Knock-In Reverse Exchangeable notes due Dec. 31, 2008 linked to Apache Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Apache shares fall below the protection price of $99.50, 75% of the initial price of $132.66, during the life of the notes and finish below the initial price in which case the payout will be 7.538 shares of Apache 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: | Apache Corp. (Symbol: APA)
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Amount: | $0.5 million
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Maturity: | Dec. 31, 2008
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Coupon: | 12%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Apache shares fall below the protection price of $99.50, 75% of the initial price, and finish below the initial price, in which case 7.538 shares of Apache stock
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Initial price: | $132.66
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Protection price: | $99.50, 75% of $132.66
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Exchange ratio: | 7.538
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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