Published on 7/30/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.28 million 15.5% reverse convertibles linked to Freeport-McMoRan
New York, July 30 - ABN Amro Bank NV priced $0.281 million of 15.5% Knock-In Reverse Exchangeable notes due Jan. 29, 2010 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price of $35.14, 60% of the initial price of $58.57, during the life of the notes and finish below the initial price in which case the payout will be 17.074 shares of Freeport-McMoRan 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: | Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
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Amount: | $0.281 million
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Maturity: | Jan. 29, 2010
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Coupon: | 15.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Freeport-McMoRan shares fall below the protection price of $35.14, 60% of the initial price, and finish below the initial price, in which case 17.074 shares of Freeport-McMoRan stock
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Initial price: | $58.57
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Protection price: | $35.14, 60% of $58.57
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Exchange ratio: | 17.074
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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