Published on 1/28/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.3 million 15.85% reverse exchangeables linked to CSX
By Jennifer Chiou
New York, Jan. 28 - ABN Amro Bank NV priced $1.3 million of 15.85% annualized Knock-In Reverse Exchangeable S-Notes due April 30, 2008 linked to CSX Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless CSX stock falls below the protection price of $36.36, 80% of the initial price of $45.45, during the life of the notes and finishes below the initial price in which case the payout will be 22.002 shares of CSX stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable S-Notes
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Underlying stock: | CSX Corp. (Symbol: CSX)
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Amount: | $1.3 million
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Maturity: | April 30, 2008
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Coupon: | 15.85%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless CSX stock falls below the protection price of $36.36, 80% of the initial price, and finishes below the initial price, in which case 22.002 shares of CSX stock.
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Initial price: | $45.45
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Protection price: | $36.36, 80% of $45.45
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Exchange ratio: | 22.002
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Pricing date: | Jan. 25
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Settlement date: | Jan. 31
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Agent: | ABN Amro Inc.
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