New Issue: ABN Amro sells $2 million 16% Knock-in Reverse Exchangeables linked to Sunoco

By E. Janene Geiss

Philadelphia, May 22 - ABN Amro Bank NV priced $2 million of 16% annualized Knock-in Reverse Exchangeable Securities due Nov. 28, 2008 linked to the common shares of Sunoco, Inc., according to an FWP filing with the Securities and Exchange Commission.

If Sunoco shares fall below the knock-in price - 75% of the initial share price - during the life of the notes and close below the initial share price, investors will receive a number of shares equal to $1,000 divided by the initial share price.

Otherwise, the payout will be par.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Sunoco, Inc. (NYSE: SUN)
Amount:	$2 million
Maturity:	Nov. 28, 2008
Coupon:	16%, payable monthly
Price:	Par
Payout at maturity:	If the stock fall below the knock-in price during the life of the notes and finish below the initial share price, 22.356 Sunoco shares; otherwise, par
Initial share price:	$44.73
Knock-in price:	$33.55, 75% of initial share price
Exchange ratio:	22.356
Pricing date:	May 21
Settlement date:	May 27
Agent:	ABN Amro Inc.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.