Published on 9/29/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $1.7 million 12.25% reverse exchangeables linked to Sun
New York, Sept. 29 - ABN Amro Bank NV priced $1.7 million of one-year 12.25% knock-in reverse exchangeable notes linked to Sun Microsystems Inc. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in reverse exchangeable senior medium-term notes
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Underlying stock: | Sun Microsystems Inc.
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Amount: | $1.7 million
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Maturity: | Sept. 29, 2005
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Coupon: | 12.25%
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Price: | Par
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Payout at maturity: | Par in cash if Sun stock never trades at knock-in level or below, otherwise smaller of par in cash or 242.131 shares of Sun stock
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Knock-in price: | $2.89, 70% of initial price of $4.13
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Exchange ratio: | 242.131
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Exchange price: | $4.13 (initial level of Sun stock)
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Call: | Non-callable
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Pricing date: | Sept. 24
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Settlement date: | Sept. 29
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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