New Issue: ABN Amro prices $1.3 million 8.25% Knock-in Reverse Exchangeables linked to Wal-Mart

By Jennifer Chiou

New York, July 5 - ABN Amro Bank NV priced a $1.3 million issue of 8.25% Knock-in Reverse Exchangeable notes due July 6, 2007 linked to Wal-Mart Stores, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Wal-Mart stock. If the stock trades at or below $43.35, the knock-in price, and closes below $48.17, the initial price, investors will receive a number of Wal-Mart shares equal to $1,000 divided by the initial stock price. The knock-in price is 90% of the initial price. Otherwise, investors will receive par in cash.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable senior medium-term series A notes
Underlying stock:	Wal-Mart Stores, Inc.
Amount:	$1.3 million
Maturity:	July 6, 2007
Coupon:	8.25%, payable quarterly
Price:	Par
Payout at maturity:	If Wal-Mart stock closes below the knock-in price during the life of the notes and finishes below the initial price, 20.76 shares of Wal-Mart stock; otherwise par in cash
Initial stock price:	$48.17
Knock-in price:	$43.35, 90% of initial price
Exchange ratio:	20.76 shares, at maturity
Pricing date:	June 30
Settlement date:	July 6
Agents:	LaSalle Financial Services Inc., ABN Amro Inc.
Distribution:	Off shelf

© 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.