Published on 8/23/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1 million 16.5% reverse convertibles linked to Charles Schwab
New York, Aug. 23 - ABN Amro Bank NV priced $1 million of 16.5% reverse convertible notes due Feb. 22, 2008 linked to Charles Schwab Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Charles Schwab stock falls below the protection price of $15.41, 80% of the initial price of $19.26, during the life of the notes and finishes below the initial price in which case the payout will be 51.921 shares of Charles Schwab stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse convertible notes
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Underlying stock: | Charles Schwab Corp.
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Amount: | $1 million
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Maturity: | Feb. 22, 2008
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Coupon: | 16.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Charles Schwab stock falls below the protection price of $15.41, 80% of the initial price, and finishes below the initial price, in which case 51.921 shares of Charles Schwab stock.
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Initial price: | $19.26
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Protection price: | $15.41, 80% of $19.26
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Exchange ratio: | 51.921
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Pricing date: | Aug. 21
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Settlement date: | Aug. 24
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Agent: | ABN Amro Inc.
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Agent fee: | 1.75%
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