Published on 1/21/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $8.5 million 10.25% reverse exchangeables linked to EMC
New York, Jan. 21 - ABN Amro Bank NV priced $8.5 million of one-year 10.25% knock-in reverse exchangeable notes linked to EMC Corp. stock, according to a filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in reverse exchangeable senior medium-term notes
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Underlying stock: | EMC Corp.
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Amount: | $8.5 million
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Maturity: | Jan. 21, 2005
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Coupon: | 10.25%
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Price: | Par
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Payout at maturity: | Par in cash if EMC stock never trades at knock-in level or below, otherwise smaller of par in cash or 64.144 shares of EMC stock
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Knock-in price: | $10.91, 70% of initial price of $15.59
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Exchange ratio: | 64.144
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Exchange price: | $15.59 (initial level of EMC stock)
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Call: | Non-callable
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Pricing date: | Jan. 16
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Settlement date: | Jan. 22
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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