Published on 7/21/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $0.8 million 13.5% reverse exchangeables linked to Kmart
New York, July 21 - ABN Amro Bank NV priced $0.8 million of one-year 13.5% knock-in reverse exchangeable notes linked to Kmart Holding 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
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Underlying stock: | Kmart Holding Corp.
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Amount: | $0.8 million
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Maturity: | July 21, 2005
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Coupon: | 13.5%
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Price: | Par
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Payout at maturity: | Par in cash if Kmart stock never trades at knock-in level or below, otherwise smaller of par in cash or 12.977 shares of Kmart stock
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Knock-in price: | $53.94, 70% of initial price of $77.06
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Exchange ratio: | 12.977
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Exchange price: | $77.06 (initial level of Kmart stock)
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Call: | Non-callable
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Pricing date: | July 16
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Settlement date: | July 21
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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