Published on 3/30/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.023 million 10% reverse convertibles linked to Kellogg
New York, March 30 - ABN Amro Bank NV priced $0.023 million of 10% Knock-In Reverse Exchangeable notes due Sept. 30, 2009 linked to Kellogg Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Kellogg shares fall below the protection price of $30.10, 80% of the initial price of $37.62, during the life of the notes and finish below the initial price in which case the payout will be 26.582 shares of Kellogg 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: | Kellogg Co. (Symbol: K)
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Amount: | $0.023 million
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Maturity: | Sept. 30, 2009
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Kellogg shares fall below the protection price of $30.10, 80% of the initial price, and finish below the initial price, in which case 26.582 shares of Kellogg stock
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Initial price: | $37.62
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Protection price: | $30.10, 80% of $37.62
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Exchange ratio: | 26.582
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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