New Issue: ABN Amro prices $0.6 million 14% reverse convertibles linked to American Express

New York, Feb. 28 - ABN Amro Bank NV priced $0.6 million of 14% Knock-In Reverse Exchangeable notes due May 30, 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 $36.65, 80% of the initial price of $45.81, during the life of the notes and finishes below the initial price in which case the payout will be 21.829 shares of American Express stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	American Express Co.
Amount:	$0.6 million
Maturity:	May 30, 2008
Coupon:	14%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless American Express stock falls below the protection price of $36.65, 80% of the initial price, and finishes below the initial price, in which case 21.829 shares of American Express stock
Initial price:	$45.81
Protection price:	$36.65, 80% of $45.81
Exchange ratio:	21.829
Pricing date:	Feb. 26
Settlement date:	Feb. 29
Agent:	ABN Amro Inc.
Fees:	1.375%

© 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.