By Angela McDaniels
Tacoma, Wash., May 15 - ABN Amro Bank NV priced $1.4 million of Knock-in Reverse Exchangeable Securities due Nov. 14, 2008 linked to the common stock of Diamond Offshore Drilling, Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 7.5% for an annualized coupon of 15%. Interest is payable monthly.
The payout at maturity will be par unless Diamond Offshore stock declines by more than 25% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Diamond Offshore shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Diamond Offshore Drilling Inc. (NYSE: DO)
|
| Amount: | $1.4 million
|
| Maturity: | Nov. 14, 2008
|
| Coupon: | 15%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Diamond Offshore stock falls below the knock-in price during the life of the notes and the final share price is less than the initial share price, 7.665 Diamond Offshore shares; otherwise, par
|
| Initial share price: | $130.46
|
| Knock-in price: | $97.85, 75% of initial share price
|
| Pricing date: | May 13
|
| Settlement date: | May 16
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.75%
|
© 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.
