Published on 4/29/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.387 million 14.25% reverse convertibles linked to Merck
New York, April 29 - ABN Amro Bank NV priced $0.387 million of 14.25% Knock-In Reverse Exchangeable notes due July 31, 2009 linked to Merck & Co., Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Merck shares fall below the protection price of $17.58, 75% of the initial price of $23.44, during the life of the notes and finish below the initial price in which case the payout will be 42.662 shares of Merck 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: | Merck & Co., Inc. (Symbol: MRK)
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Amount: | $0.387 million
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Maturity: | July 31, 2009
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Coupon: | 14.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Merck shares fall below the protection price of $17.58, 75% of the initial price, and finish below the initial price, in which case 42.662 shares of Merck stock
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Initial price: | $23.44
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Protection price: | $17.58, 75% of $23.44
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Exchange ratio: | 42.662
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Pricing date: | April 27
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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