Published on 6/27/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $500,000 19.5% reverse convertibles linked to General Motors
By Susanna Moon
Chicago, June 27 - ABN Amro Bank NV priced $500,000 of 19.5% Knock-In Reverse Exchangeable notes due June 30, 2009 linked to General Motors Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless General Motors shares fall below the protection price - 55% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price.
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 Motors Corp. (Symbol: GM)
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Amount: | $500,000
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Maturity: | June 30, 2009
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Coupon: | 19.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless General Motors stock falls below the protection price and finishes below the initial price, in which case 78.064 shares of General Motors stock
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Initial share price: | $12.81
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Protection price: | $7.05, or 55% of initial price
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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: | 2.5%
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