New Issue: ABN Amro prices $0.063 million 23.5% reverse convertibles linked to Cummins

New York, June 29 - ABN Amro Bank NV priced $0.063 million of 23.5% Knock-In Reverse Exchangeable notes due Dec. 31, 2009 linked to Cummins Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless Cummins shares fall below the protection price of $27.41, 80% of the initial price of $34.26, during the life of the notes and finish below the initial price in which case the payout will be 29.189 shares of Cummins stock.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable notes
Underlying stock:	Cummins Inc. (Symbol: CMI)
Amount:	$0.063 million
Maturity:	Dec. 31, 2009
Coupon:	23.5%, payable monthly
Price:	Par
Payout at maturity:	Par in cash unless Cummins shares fall below the protection price of $27.41, 80% of the initial price, and finish below the initial price, in which case 29.189 shares of Cummins stock
Initial price:	$34.26
Protection price:	$27.41, 80% of $34.26
Exchange ratio:	29.189
Pricing date:	June 25
Settlement date:	June 30
Agent:	ABN Amro Inc.
Fees:	2.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.