Published on 7/31/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.6 million 9.75% reverse convertibles linked to American Express
New York, July 31 - ABN Amro Bank NV priced $1.6 million of 9.75% reverse convertible notes due July 31, 2008 linked to American Express Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless American Express stock falls below the protection price of $46.84, 80% of the initial price of $58.55, during the life of the notes and finishes below the initial price in which case the payout will be 17.079 shares of American Express stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
|
Issue: | Reverse convertible notes
|
Underlying stock: | American Express Co.
|
Amount: | $1.6 million
|
Maturity: | July 31, 2008
|
Coupon: | 9.75%, payable monthly
|
Price: | Par
|
Payout at maturity: | Par in cash unless American Express stock falls below the protection price of $46.84, 80% of the initial price, and finishes below the initial price, in which case 17.079 shares of American Express stock.
|
Initial price: | $58.55
|
Protection price: | $46.84, 80% of $58.55
|
Exchange ratio: | 17.079
|
Pricing date: | July 27
|
Settlement date: | July 31
|
Agent: | ABN Amro Inc.
|
Agent fee: | 2.75%
|
|
© 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.