Published on 8/29/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $300,000 15.25% Knock-in Reverse Exchangeables linked to Onyx
By E. Janene Geiss
Philadelphia, Aug. 29 - ABN Amro Bank NV priced $300,000 of 15.25% Knock-in Reverse Exchangeable Securities due Aug. 29, 2008 linked to the common shares of Onyx Pharmaceuticals, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Onyx stock. If Onyx shares close below $25.928, the knock-in price, during the life of the notes and the final share price is less than the initial share price of $37.04, investors will receive a number of Onyx shares equal to $1,000 divided by the initial share price. The knock-in price is 70% of the initial share price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | Onyx Pharmaceuticals, Inc. (Nasdaq: ONXX)
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Amount: | $300,000
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Maturity: | Aug. 29, 2008
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Coupon: | 15.25%, payable monthly
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Price: | Par
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Payout at maturity: | If Onyx shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of Onyx shares equal to $1,000 divided by the initial share price; otherwise, par in cash
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Initial share price: | $37.04
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Knock-in price: | $25.928, 70% of initial share price
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Exchange ratio: | 26.998 shares, at maturity
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Agent: | ABN Amro Inc.
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Fees: | 3%
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Distribution: | Off shelf
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