Published on 6/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.75 million 10% reverse convertibles linked to Valero Energy
New York, June 30 - ABN Amro Bank NV priced $0.75 million of 10% Knock-In Reverse Exchangeable notes due Sept. 30, 2008 linked to Valero Energy Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Valero Energy shares fall below the protection price of $32.81, 75% of the initial price of $43.74, during the life of the notes and finish below the initial price in which case the payout will be 22.862 shares of Valero Energy stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Valero Energy Corp. (Symbol: VLO)
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Amount: | $0.75 million
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Maturity: | Sept. 30, 2008
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Coupon: | 10%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Valero Energy shares fall below the protection price of $32.81, 75% of the initial price, and finish below the initial price, in which case 22.862 shares of Valero Energy stock
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Initial price: | $43.74
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Protection price: | $32.81, 75% of $43.74
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Exchange ratio: | 22.862
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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