Published on 5/14/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $525,000 35.65% reverse convertibles linked to DryShips
By Susanna Moon
Chicago, May 14 - ABN Amro Bank NV priced $525,000 of 35.65% annualized Knock-In Reverse Exchangeable Securities due Aug. 15, 2008 linked to DryShips Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless DryShips stock falls below the protection price - 80% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of DryShips shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | DryShips Inc. (Nasdaq: DRYS)
|
| Amount: | $525,000
|
| Maturity: | Aug. 15, 2008
|
| Coupon: | 35.65%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless the stock falls below the protection price during the life of the notes and finishes below the initial share price, in which case 10.183 DryShips shares
|
| Initial share price: | $98.20
|
| Protection price: | $78.56, 80% of initial price
|
| Pricing date: | May 13
|
| Settlement date: | May 16
|
| Agent: | ABN Amro Inc.
|
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