Published on 6/3/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.7 million 17.25% reverse convertibles linked to Cisco Systems
New York, June 3 - ABN Amro Bank NV priced $0.7 million of 17.25% Knock-In Reverse Exchangeable notes due Dec. 4, 2009 linked to Cisco Systems, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Cisco Systems shares fall below the protection price of $16.67, 85% of the initial price of $19.61, during the life of the notes and finish below the initial price in which case the payout will be 50.994 shares of Cisco Systems stock.
ABN Amro Bank is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Cisco Systems, Inc. (Symbol: CSCO)
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Amount: | $0.7 million
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Maturity: | Dec. 4, 2009
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Coupon: | 17.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Cisco Systems shares fall below the protection price of $16.67, 85% of the initial price, and finish below the initial price, in which case 50.994 shares of Cisco Systems stock
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Initial price: | $19.61
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Protection price: | $16.67, 85% of $19.61
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Exchange ratio: | 50.994
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Pricing date: | June 2
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Settlement date: | June 5
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Agent: | ABN Amro Bank
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Fees: | 1.25%
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