Published on 6/27/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.05 million 11.5% reverse convertibles linked to Foster Wheeler
New York, June 27 - ABN Amro Bank NV priced $1.05 million of 11.5% Knock-In Reverse Exchangeable notes due Dec. 31, 2008 linked to Foster Wheeler Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Foster Wheeler shares fall below the protection price of $47.30, 65% of the initial price of $72.77, during the life of the notes and finish below the initial price in which case the payout will be 13.742 shares of Foster Wheeler 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: | Foster Wheeler Ltd. (Symbol:FWLT)
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Amount: | $1.05 million
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Maturity: | Dec. 31, 2008
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Coupon: | 11.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Foster Wheeler shares fall below the protection price of $47.30, 65% of the initial price, and finish below the initial price, in which case 13.742 shares of Foster Wheeler stock
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Initial price: | $72.77
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Protection price: | $47.30, 65% of $72.77
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Exchange ratio: | 13.742
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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