Published on 1/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $700,000 13.5% reverse convertibles linked to JPMorgan Chase
New York, Jan. 31 - ABN Amro Bank NV priced $700,000 of 13.5% annualized Knock-In Reverse Exchangeable notes due July 31, 2008 linked to JPMorgan Chase & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless JPMorgan Chase stock falls below the protection price of $36.46, 80% of the initial price of $45.57, during the life of the notes and finishes below the initial price in which case the payout will be 21.944 shares of JPMorgan Chase 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: | JPMorgan Chase & Co. (Symbol: JPM)
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Amount: | $700,000
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Maturity: | July 31, 2008
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Coupon: | 13.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless JPMorgan Chase stock falls below the protection price of $36.46, 80% of the initial price, and finishes below the initial price, in which case 21.944 shares of JPMorgan Chase stock.
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Initial price: | $45.57
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Protection price: | $36.46, 80% of $45.57
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Exchange ratio: | 21.944
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Pricing date: | Jan. 28
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Settlement date: | Jan. 31
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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