Published on 9/26/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.3 million 12.5% reverse convertibles linked to Kohl's
New York, Sept. 26 - ABN Amro Bank NV priced $0.3 million of 12.5% Knock-In Reverse Exchangeable notes due Dec. 31, 2008 linked to Kohl's Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Kohl's shares fall below the protection price of $35.93, 75% of the initial price of $47.90, during the life of the notes and finish below the initial price in which case the payout will be 20.877 shares of Kohl's 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: | Kohl's Corp. (Symbol: KSS)
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Amount: | $0.3 million
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Maturity: | Dec. 31, 2008
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Coupon: | 12.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Kohl's shares fall below the protection price of $35.93, 75% of the initial price, and finish below the initial price, in which case 20.877 shares of Kohl's stock
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Initial price: | $47.90
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Protection price: | $35.93, 75% of $47.90
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Exchange ratio: | 20.877
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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