By Susanna Moon
Chicago, April 18 - ABN Amro Bank NV priced $1.3 million of 24.45% Knock-in Reverse Exchangeable Securities due Oct. 23, 2008 linked to the common stock of General Motors Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
If the stock falls below the knock-in level - 50% of the initial price - during the life of the securities and finishes below the initial price, the payout at maturity will be a number of General Motors shares equal to par divided by the initial price.
Otherwise, the payout will be par.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | General Motors Corp. (NYSE: GM)
|
| Amount: | $1.3 million
|
| Maturity: | Oct. 23, 2008
|
| Coupon: | 24.45%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If stock falls below knock-in level during life of securities and finishes below initial price, 49.261 General Motors shares; otherwise, par
|
| Initial price: | $20.30
|
| Knock-in price: | $10.15, or 50% of initial price
|
| Pricing date: | April 18
|
| Settlement date: | April 23
|
| Agent: | ABN Amro Inc.
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
