Published on 5/2/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $750,000 25.7% knock-in notes linked to the Knot
By Laura Lutz
Des Moines, May 2 - ABN Amro Bank NV priced $750,000 of 25.7% Knock-in Reverse Exchangeable Securities due Aug. 7, 2007 linked to the Knot, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of the Knot stock. If the stock closes below $16.90, the knock-in price, during the life of the notes and finishes below $21.12, the initial price, investors will receive a number of the Knot shares equal to $1,000 divided by the initial price. The knock-in price is 80% of the initial price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | The Knot, Inc.
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Amount: | $750,000
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Maturity: | Aug. 7, 2007
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Coupon: | 25.7%, payable at maturity
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Price: | Par
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Payout at maturity: | If the Knot stock closes below the knock-in price during the life of the notes and finishes below the initial price, 47.348 shares of the Knot stock; otherwise, par in cash
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Initial price: | $21.12
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Knock-in price: | $16.90, 80% of initial price
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Exchange ratio: | 47.348 shares, at maturity
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Pricing date: | May 1
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Settlement date: | May 7
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Agent: | ABN Amro Inc.
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Agent fees: | 1.5%
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Distribution: | Off shelf
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