Published on 12/31/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $475,000 9% reverse exchangeables linked to Corning
By Caroline Salls
Pittsburgh, Dec. 29 - ABN Amro Bank NV priced $475,000 of nine-month 9% knock-in reverse exchangeable notes linked to Corning Inc. common 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: | $475,000
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Maturity: | Sept. 29, 2005
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Coupon: | 9%
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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 84.674 shares of Corning stock
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Knock-in price: | $8.27, 70% of initial price of $11.81
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Exchange ratio: | 84.674
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Exchange price: | $11.81
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Call: | Non-callable
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Pricing date: | Dec. 23
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Settlement date: | Dec. 29
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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