Published on 6/29/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.152 million 13% reverse convertibles linked to CSX
New York, June 29 - ABN Amro Bank NV priced $0.152 million of 13% Knock-In Reverse Exchangeable notes due Sept. 30, 2009 linked to CSX Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless CSX shares fall below the protection price of $24.68, 70% of the initial price of $35.26, during the life of the notes and finish below the initial price in which case the payout will be 28.361 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: | $0.152 million
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Maturity: | Sept. 30, 2009
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Coupon: | 13%, 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 $24.68, 70% of the initial price, and finish below the initial price, in which case 28.361 shares of CSX stock
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Initial price: | $35.26
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Protection price: | $24.68, 70% of $35.26
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Exchange ratio: | 28.361
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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