Published on 4/30/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.65 million 11.5% reverse convertibles linked to Whole Foods
New York, April 30 - ABN Amro Bank NV priced $0.65 million of 11.5% Knock-In Reverse Exchangeable notes due Oct. 31, 2008 linked to Whole Foods Market, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Whole Foods stock falls below the protection price of $21.83, 70% of the initial price of $31.19, during the life of the notes and finishes below the initial price in which case the payout will be 32.062 shares of Whole Foods 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: | Whole Foods Market, Inc. (Nasdaq: WFMI)
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Amount: | $0.65 million
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Maturity: | Oct. 31, 2008
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Coupon: | 11.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Whole Foods stock falls below the protection price of $21.83, 70% of the initial price, and finishes below the initial price, in which case 32.602 shares of Whole Foods stock
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Initial price: | $31.19
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Protection price: | $21.83, 70% of $31.19
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Exchange ratio: | 32.602
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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