Published on 5/28/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.401 million 11.75% reverse convertibles linked to Intel
New York, May 28 - ABN Amro Bank NV priced $0.401 million of 11.75% Knock-In Reverse Exchangeable notes due Aug. 31, 2009 linked to Intel Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Intel shares fall below the protection price of $11.61, 75% of the initial price of $15.48, during the life of the notes and finish below the initial price in which case the payout will be 64.599 shares of Intel stock.
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: | Intel Corp. (Symbol: INTC)
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Amount: | $0.401 million
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Maturity: | Aug. 31, 2009
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Coupon: | 11.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Intel shares fall below the protection price of $11.61, 75% of the initial price, and finish below the initial price, in which case 64.599 shares of Intel stock
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Initial price: | $15.48
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Protection price: | $11.61, 75% of $15.48
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Exchange ratio: | 64.599
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Pricing date: | May 26
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Settlement date: | May 29
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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