Published on 4/13/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $4.75 million 11.5% reverse exchangeables linked to Corning
New York, April 13 - ABN Amro Bank NV priced $4.75 million of one-year 11.5% knock-in reverse exchangeable notes linked to Corning Inc. stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in reverse exchangeable senior medium-term notes
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Underlying stock: | Corning Inc.
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Amount: | $4.75 million
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Maturity: | April 14, 2005
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Coupon: | 11.5%
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Price: | Par
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Payout at maturity: | Par in cash if Corning stock never trades at knock-in level or below, otherwise smaller of par in cash or 87.873 shares of Corning stock
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Knock-in price: | $7.97, 70% of initial price of $11.38
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Exchange ratio: | 87.873
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Exchange price: | $11.38 (initial level of Corning stock)
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Call: | Non-callable
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Pricing date: | April 8
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Settlement date: | April 14
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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