New Issue: ABN Amro prices $2.2 million 13% notes linked to First Bancorp. via LaSalle

By Angela McDaniels

Seattle, Jan. 19 - ABN Amro Bank NV priced a $2.2 million issue of Knock-In Reverse Exchangeable Securities due July 19, 2007 linked to the common stock of First Bancorp. via agent LaSalle Financial Services, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 6.5% for an annualized rate of 13%. Interest will be payable monthly.

The payout at maturity will be par unless First Bancorp. stock falls below the knock-in level of $7.40 during the life of the notes and finishes below the initial share price of $9.25, in which case the payout will be a number of First Bancorp. shares equal to $1,000 divided by the initial share price.

Issuer:	ABN Amro Bank NV
Issue:	Knock-In Reverse Exchangeable Securities
Underlying stock:	First Bancorp.
Amount:	$2.2 million
Maturity:	July 19, 2007
Coupon:	13%, payable monthly
Price:	Par
Payout at maturity:	Par if First Bancorp. stock remains at or above the knock-out level during the life of the notes or finishes at or above the initial share price; otherwise, 108.108 shares of First Bancorp. stock
Knock-in level:	$7.40, 80% of the initial share price
Initial share price:	$9.25
Pricing date:	Jan. 16
Settlement date:	Jan. 19
Agent:	LaSalle Financial Services, Inc.
Agent fees:	1.875%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.