Published on 2/27/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $500,000 14.25% knock-in notes linked to Gap
By Angela McDaniels
Seattle, Feb. 27 - ABN Amro Bank NV priced a $500,000 offering of Knock-In Reverse Exchangeable Securities due May 31, 2007 linked to the common stock of The Gap, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The three-month securities will pay 3.5625% for an annualized rate of 14.25%. Interest is payable monthly.
The payout at maturity will be par unless Gap stock falls by more than 10% during the life of the securities and finishes below the initial share price of $19.81, in which case the payout will be a number of Gap shares equal to $1,000 divided by the initial share price.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable Securities
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Underlying stock: | The Gap, Inc.
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Amount: | $500,000
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Maturity: | May 31, 2007
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Coupon: | 14.25%, payable monthly
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Price: | Par
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Payout at maturity: | If Gap stock falls by more than 10% during the life of the securities and finishes below the initial share price, 50.47956 Gap shares; otherwise, par
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Initial share price: | $19.81
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Agent: | ABM Amro Inc.
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Agent fees: | 1.375%
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