Published on 1/13/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.5 million 17.5% reverse convertibles linked to U.S. Bancorp
New York, Jan. 13 - ABN Amro Bank NV priced $1.5 million of 17.5% Knock-In Reverse Exchangeable notes due April 14, 2009 linked to U.S. Bancorp shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless U.S. Bancorp shares fall below the protection price of $12.29, 55% of the initial price of $22.35, during the life of the notes and finish below the initial price in which case the payout will be 44.743 shares of U.S. Bancorp 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: | U.S. Bancorp (Symbol: USB)
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Amount: | $1.5 million
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Maturity: | April 14, 2009
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Coupon: | 17.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless U.S. Bancorp shares fall below the protection price of $12.29, 55% of the initial price, and finish below the initial price, in which case 44.743 shares of U.S. Bancorp stock
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Initial price: | $22.35
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Protection price: | $12.29, 55% of $22.35
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Exchange ratio: | 44.743
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Pricing date: | Jan. 9
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Settlement date: | Jan. 14
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Agent: | ABN Amro Inc.
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Fees: | 1.5%
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