Published on 7/30/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2.27 million 24.2% reverse convertibles linked to Las Vegas Sands
New York, July 30 - ABN Amro Bank NV priced $2.271 million of 24.2% Knock-In Reverse Exchangeable notes due Jan. 29, 2010 linked to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Las Vegas Sands shares fall below the protection price of $6.03, 55% of the initial price of $10.97, during the life of the notes and finish below the initial price in which case the payout will be 91.158 shares of Las Vegas Sands 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: | Las Vegas Sands Corp. (Symbol: LVS)
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Amount: | $2.271 million
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Maturity: | Jan. 29, 2010
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Coupon: | 24.2%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Las Vegas Sands shares fall below the protection price of $6.03, 55% of the initial price, and finish below the initial price, in which case 91.158 shares of Las Vegas Sands stock
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Initial price: | $10.97
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Protection price: | $6.03, 55% of $10.97
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Exchange ratio: | 91.158
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Pricing date: | July 28
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Settlement date: | July 31
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Agent: | ABN Amro Inc.
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Fees: | 6.25%
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