Published on 2/2/2010 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.44 million 11% reverse convertibles linked to DryShips
New York, Feb. 2 - ABN Amro Bank NV priced $0.444 million of 11% Knock-In Reverse Exchangeable notes due May 4, 2010 linked to DryShips Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless DryShips shares fall below the protection price of $4.03, 70% of the initial price of $5.75, during the life of the notes and finish below the initial price in which case the payout will be 173.913 shares of DryShips stock.
RBS Securities 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: | DryShips Inc. (Symbol: DRYS)
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Amount: | $0.444 million
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Maturity: | May 4, 2010
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Coupon: | 11%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless DryShips shares fall below the protection price of $4.03, 70% of the initial price, and finish below the initial price, in which case 173.913 shares of DryShips stock
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Initial price: | $5.75
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Protection price: | $4.03, 70% of $5.75
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Exchange ratio: | 173.913
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Pricing date: | Feb. 1
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Settlement date: | Feb. 4
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Agent: | RBS Securities Inc.
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Fees: | 2.75%
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Cusip: | 00083JQF8
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