Published on 6/29/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.342 million 15% reverse convertibles linked to JPMorgan Chase
New York, June 29 - ABN Amro Bank NV priced $0.342 million of 15% Knock-In Reverse Exchangeable notes due Sept. 30, 2009 linked to JPMorgan Chase & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless JPMorgan Chase shares fall below the protection price of $23.90, 70% of the initial price of $34.14, during the life of the notes and finish below the initial price in which case the payout will be 29.291 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: | $0.342 million
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Maturity: | Sept. 30, 2009
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Coupon: | 15%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless JPMorgan Chase shares fall below the protection price of $23.90, 70% of the initial price, and finish below the initial price, in which case 29.291 shares of JPMorgan Chase stock
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Initial price: | $34.14
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Protection price: | $23.90, 70% of $34.14
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Exchange ratio: | 29.291
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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: | 1.375%
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