Published on 4/27/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $4.375 million 18% Knock-in Reverse Exchangeables linked to CSX
By Laura Lutz
Des Moines, April 27 - ABN Amro Bank NV priced $4.375 million of 18% Knock-in Reverse Exchangeable Securities due July 31, 2007 linked to CSX Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of CSX stock. If the stock trades at or below $40.28, the knock-in price, and closes below $44.75, the initial price, during the life of the notes, investors will receive a number of CSX shares equal to $1,000 divided by the initial stock price. The knock-in price is 90% of the initial price.
Otherwise, investors will receive par in cash.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | CSX Corp.
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Amount: | $4.375 million
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Maturity: | July 31, 2007
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Coupon: | 18%, payable monthly
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Price: | Par
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Payout at maturity: | If CSX stock closes below the knock-in price during the life of the notes and finishes below the initial price, 22.346 shares of CSX stock; otherwise, par in cash
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Initial price: | $44.75
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Knock-in price: | $40.28, 90% of initial price
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Exchange ratio: | 22.346 shares, at maturity
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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Distribution: | Off shelf
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