Published on 3/25/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $875,000 13.7% reverse convertibles linked to Baker Hughes
By Susanna Moon
Chicago, March 25 - ABN Amro Bank NV priced $875,000 of 13.7% annualized Knock-In Reverse Exchangeable Securities due July 3, 2008 linked to Baker Hughes Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless Baker Hughes stock falls below the protection price - 80% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Baker Hughes shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable Securities
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Underlying stock: | Baker Hughes Inc. (NYSE: BHI)
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Amount: | $875,000
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Maturity: | July 3, 2008
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Coupon: | 13.7%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Baker Hughes stock falls below the protection price during the life of the notes and finishes below the initial price, in which case 15.225 Baker Hughes shares
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Initial price: | $65.68
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Protection price: | $52.54, or 80% of initial price
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Pricing date: | March 24
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Settlement date: | April 3
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Agent: | ABN Amro Inc.
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