Published on 3/2/2005 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $2.45 million 9.25% reverse exchangeables linked to General Motors
By Caroline Salls
Pittsburgh, March 2 - ABN Amro Bank NV priced $2.45 million of one-year 9.25% knock-in reverse exchangeable notes linked to General Motors Corp. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in reverse exchangeable senior medium-term notes
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Underlying stock: | General Motors Corp.
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Amount: | $2.45 million
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Maturity: | March 2, 2006
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Coupon: | 9.25%
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Price: | Par
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Payout at maturity: | Par in cash if General Motors stock never trades at knock-in level or below, otherwise smaller of par in cash or 27.108 shares of General Motors stock
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Knock-in price: | $29.51, 80% of initial price of $36.89
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Exchange ratio: | 27.108
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Exchange price: | $36.89
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Call: | Non-callable
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Pricing date: | Feb. 25
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Settlement date: | March 2
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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