Published on 2/20/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2 million 22.5% notes linked to JetBlue
By Jennifer Chiou
New York, Feb. 20 - ABN Amro Bank NV priced a $2 million issue of Knock-In Reverse Exchangeable Securities due May 22, 2007 linked to the common stock of JetBlue Airways Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The three-month notes will pay 5.625% for an annualized rate of 22.5%. Interest is payable monthly.
The payout at maturity will be par unless JetBlue stock falls below the knock-in level - $10.85, 80% of the initial share price - during the life of the notes and finishes below the initial share price of $13.56, in which case the payout will be a number of JetBlue shares equal to $1,000 divided by the initial share price.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | JetBlue Airways Corp.
|
| Amount: | $2 million
|
| Maturity: | May 22, 2007
|
| Coupon: | 22.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par if JetBlue stock remains at or above the knock-in level of $10.85 during the life of the notes or finishes at or above the initial share price; otherwise, 73.746 shares of JetBlue stock
|
| Initial share price: | $13.56
|
| Knock-in level: | $10.85, 80% of the initial share price
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Agent: | ABN Amro Inc.
|
| Agent fees: | 1.375%
|
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