Published on 11/30/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.17 million 12.75% reverse convertibles linked to General Electric
New York, Nov. 30 - ABN Amro Bank NV priced $0.168 million of 12.75% Knock-In Reverse Exchangeable notes due May 28, 2010 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless General Electric shares fall below the protection price of $12.90, 80% of the initial price of $16.12, during the life of the notes and finish below the initial price in which case the payout will be 62.035 shares of General Electric stock.
RBS Securities 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: | General Electric Co. (Symbol: GE)
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Amount: | $0.168 million
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Maturity: | May 28, 2010
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Coupon: | 12.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless General Electric shares fall below the protection price of $12.90, 80% of the initial price, and finish below the initial price, in which case 62.035 shares of General Electric stock
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Initial price: | $16.12
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Protection price: | $12.90, 80% of $16.12
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Exchange ratio: | 62.035
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | RBS Securities Inc.
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Fees: | 1.75%
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