Published on 2/2/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $770,000 15% Knock-in Reverse Exchangeables linked to Las Vegas Sands
By Laura Lutz
Washington, Feb. 2 - ABN Amro Bank NV priced $770,000 of 15% Knock-in Reverse Exchangeable Securities due May 4, 2007 linked to Las Vegas Sands Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Las Vegas Sands stock. If the stock trades at or below $78.05, the knock-in price, and closes below $104.07, the initial price, during the life of the notes, investors will receive a number of Las Vegas Sands shares equal to $1,000 divided by the initial stock price. The knock-in price is 75% of the initial price.
Otherwise, investors will receive par in cash.
Issuer: | ABN Amro Bank NV
|
Issue: | Knock-in Reverse Exchangeable Securities
|
Underlying stock: | Las Vegas Sands Corp.
|
Amount: | $770,000
|
Maturity: | May 4, 2007
|
Coupon: | 15%, payable monthly
|
Price: | Par
|
Payout at maturity: | If Las Vegas Sands stock closes below the knock-in price during the life of the notes and finishes below the initial price, 9.609 shares of Las Vegas Sands stock; otherwise, par in cash
|
Initial price: | $104.07
|
Knock-in price: | $78.05, 75% of initial price
|
Exchange ratio: | 9.609 shares, at maturity
|
Pricing date: | Jan. 31
|
Settlement date: | Feb. 5
|
Agent: | ABN Amro Inc.
|
Fees: | 1.25%
|
Distribution: | Off shelf
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.