Published on 4/19/2007 in the Prospect News Structured Products Daily.
New Issue: ABN sells $1 million 9.25% knock-in notes linked to FedEx
By Jennifer Chiou
New York, April 19 - ABN Amro Bank NV priced $1 million of 9.25% annualized Knock-in Reverse Exchangeable Securities due Oct. 17, 2007 linked to FedEx Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of FedEx stock. If the stock falls below $92.27, the knock-in price, during the life of the notes and finishes below $108.55, the initial price, investors will receive a number of FedEx shares equal to $1,000 divided by the initial price. The knock-in price is 85% of the initial price.
Otherwise, investors will receive par in cash.
ABM Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | FedEx Corp.
|
| Amount: | $1 million
|
| Maturity: | Oct. 17, 2007
|
| Coupon: | 9.25% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If FedEx stock closes below the knock-in price during the life of the notes and finishes below the initial price, 9.212 shares of FedEx stock; otherwise, par in cash
|
| Initial price: | $108.55
|
| Knock-in price: | $92.27, 85% of initial price
|
| Exchange ratio: | 9.212 shares, at maturity
|
| Pricing date: | April 12
|
| Settlement date: | April 17
|
| Agent: | ABN Amro Inc.
|
| Agent fees: | 1.35%
|
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