Published on 3/30/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.325 million 26% reverse convertibles linked to General Electric
New York, March 30 - ABN Amro Bank NV priced $0.325 million of 26% Knock-In Reverse Exchangeable notes due June 30, 2009 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless General Electric shares fall below the protection price of $5.45, 50% of the initial price of $10.90, during the life of the notes and finish below the initial price in which case the payout will be 91.743 shares of General Electric 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: | General Electric Co. (Symbol: GE)
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Amount: | $0.325 million
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Maturity: | June 30, 2009
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Coupon: | 26%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless General Electric shares fall below the protection price of $5.45, 50% of the initial price, and finish below the initial price, in which case 91.743 shares of General Electric stock
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Initial price: | $10.90
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Protection price: | $5.45, 50% of $10.90
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Exchange ratio: | 91.743
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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