Published on 2/29/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.55 million 20% reverse convertibles linked to Energy Conversion
New York, Feb. 29 - ABN Amro Bank NV priced $1.55 million of 20% Knock-In Reverse Exchangeable notes due Aug. 29, 2008 linked to Energy Conversion Devices, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Energy Conversion Devices stock falls below the protection price of $17.36, 60% of the initial price of $28.93, during the life of the notes and finishes below the initial price in which case the payout will be 34.566 shares of Energy Conversion Devices 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: | Energy Conversion Devices, Inc.
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Amount: | $1.55 million
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Maturity: | Aug. 29, 2008
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Coupon: | 20%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Energy Conversion Devices stock falls below the protection price of $17.36, 60% of the initial price, and finishes below the initial price, in which case 34.566 shares of Energy Conversion Devices stock
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Initial price: | $28.93
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Protection price: | $17.36, 60% of $28.93
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Exchange ratio: | 34.566
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Pricing date: | Feb. 26
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Settlement date: | Feb. 29
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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