Published on 3/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.65 million 15.75% reverse convertibles linked to Diamond Offshore
New York, March 31 - ABN Amro Bank NV priced $0.65 million of 15.75% Knock-In Reverse Exchangeable notes due June 30, 2008 linked to Diamond Offshore Drilling, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Diamond Offshore stock falls below the protection price of $95.30, 80% of the initial price of $119.13, during the life of the notes and finishes below the initial price in which case the payout will be 8.394 shares of Diamond Offshore 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: | Diamond Offshore Drilling, Inc.
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Amount: | $0.65 million
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Maturity: | June 30, 2008
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Coupon: | 15.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Diamond Offshore stock falls below the protection price of $95.30, 80% of the initial price, and finishes below the initial price, in which case 8.394 shares of Diamond Offshore stock
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Initial price: | $119.13
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Protection price: | $95.30, 80% of $119.13
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Exchange ratio: | 8.394
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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