Published on 7/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.15 million 11.75% reverse convertibles linked to CSX
New York, July 30 - ABN Amro Bank NV priced $0.15 million of 11.75% Knock-In Reverse Exchangeable notes due Jan. 30, 2009 linked to CSX Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless CSX shares fall below the protection price of $46.37, 75% of the initial price of $61.82, during the life of the notes and finish below the initial price in which case the payout will be 16.176 shares of CSX 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: | CSX Corp. (Symbol: CSX)
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Amount: | $0.15 million
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Maturity: | Jan. 30, 2009
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Coupon: | 11.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless CSX shares fall below the protection price of $46.37, 75% of the initial price, and finish below the initial price, in which case 16.176 shares of CSX stock
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Initial price: | $61.82
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Protection price: | $46.37, 75% of $61.82
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Exchange ratio: | 16.176
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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