By E. Janene Geiss
Philadelphia, May 30 - ABN Amro Bank NV priced $1.125 million of Knock-in Reverse Exchangeable Securities due Nov. 30, 2007 linked to CSX Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes will pay 5.3% for an annualized rate of 10.6%. Interest is payable monthly.
Payment at maturity will be determined according to the performance of CSX stock. If the stock trades at or below $35.30, the knock-in price, and closes below $44.12, the initial stock 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 80% of the initial stock price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | CSX Corp.
|
| Amount: | $1.125 million
|
| Maturity: | Nov. 30, 2007
|
| Coupon: | 10.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If CSX stock closes below the knock-in price of $35.30 during the life of the notes and finishes below the initial stock price, 22.665 shares of CSX stock; otherwise, par in cash
|
| Initial stock price: | $44.12
|
| Knock-in price: | $35.30, 80% of initial stock price
|
| Exchange ratio: | 22.665 shares, at maturity
|
| Pricing date: | May 24
|
| Settlement date: | May 31
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.75%
|
| Distribution: | Off shelf
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
