Published on 8/18/2005 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $2.9 million 11% Knock-In Reverse Exchangeables linked to GM
By Jennifer Chiou
New York, Aug. 18 - ABN Amro Bank NV priced $2.9 million one-year 11% 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, series A
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Underlying stock: | General Motors Corp.
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Amount: | $2.9 million
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Maturity: | Aug. 17, 2006
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Coupon: | 11%, payable semiannually
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Price: | Par
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Payout at maturity: | If GM stock closes below the knock-in price of $27.64 at any time, lower of 28.944 GM shares and par in cash; otherwise par in cash
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Knock-in price: | $27.64 (80% of initial price)
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Exchange ratio: | 28.944
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Exchange price: | $34.55 (closing price of stock on pricing date)
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Pricing date: | Aug. 12
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Settlement date: | Aug. 17
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Underwriters: | ABN Financial Services, Inc., ABN Amro Inc.
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Distribution: | Off shelf
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