Published on 7/27/2005 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $0.7 million 9.5% reverse exchangeables linked to Qualcomm
New York, July 27 - ABN Amro Bank NV priced $0.7 million nine-month 9.5% reverse exchangeable notes linked to Qualcomm Inc. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse exchangeable senior medium-term notes, series A
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Underlying stock: | Qualcomm Inc.
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Amount: | $0.7 million
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Maturity: | April 27, 2006
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Coupon: | 9.5%, payable quarterly
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Price: | Par
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Payout at maturity: | If Qualcomm stock closes below the initial price of $39.30, 25.455 shares of Qualcomm stock per $1,000 principal amount; otherwise par in cash
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Exchange ratio: | 25.455
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Initial price: | $39.30 (closing price of stock on pricing date)
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Pricing date: | July 22
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Settlement date: | July 27
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Underwriters: | ABN Financial Services, Inc., ABN Amro Inc.
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Distribution: | Off shelf
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