Published on 2/2/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $935,000 9.62% Knock-in Reverse Exchangeables linked to Baker Hughes
By Laura Lutz
Washington, Feb. 2 - ABN Amro Bank NV priced $935,000 of 9.62% Knock-in Reverse Exchangeable Securities due May 4, 2007 linked to Baker Hughes Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Baker Hughes stock. If the stock trades at or below $55.22, the knock-in price, and closes below $69.03, the initial price, during the life of the notes, investors will receive a number of Baker Hughes shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial price.
Otherwise, investors will receive par in cash.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | Baker Hughes Inc.
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Amount: | $935,000
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Maturity: | May 4, 2007
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Coupon: | 9.62%, payable monthly
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Price: | Par
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Payout at maturity: | If Baker Hughes stock closes below the knock-in price during the life of the notes and finishes below the initial price, 14.486 shares of Baker Hughes stock; otherwise, par in cash
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Initial price: | $69.03
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Knock-in price: | $55.22, 80% of initial price
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Exchange ratio: | 14.486 shares, at maturity
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Pricing date: | Jan. 31
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Settlement date: | Feb. 5
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Agent: | ABN Amro Inc.
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Fees: | 1.25%
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Distribution: | Off shelf
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