Published on 6/29/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.112 million 10.5% reverse convertibles linked to General Electric
New York, June 29 - ABN Amro Bank NV priced $0.112 million of 10.5% Knock-In Reverse Exchangeable notes due Dec. 31, 2009 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless General Electric shares fall below the protection price of $7.71, 65% of the initial price of $11.86, during the life of the notes and finish below the initial price in which case the payout will be 84.317 shares of General Electric stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | General Electric Co. (Symbol: GE)
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Amount: | $0.112 million
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Maturity: | Dec. 31, 2009
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Coupon: | 10.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless General Electric shares fall below the protection price of $7.71, 65% of the initial price, and finish below the initial price, in which case 84.317 shares of General Electric stock
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Initial price: | $11.86
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Protection price: | $7.71, 65% of $11.86
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Exchange ratio: | 84.317
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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