New Issue: ABN Amro prices $1 million 13.25% reverse exchangeables linked to First BanCorp

By Angela McDaniels

Seattle, Oct. 12 - ABN Amro Bank NV priced a $1 million issue of 13.25% Knock-in Reverse Exchangeable Securities due Oct. 11, 2007 linked to First BanCorp stock via LaSalle Financial Services, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par unless First BanCorp stock trades at or below $8.57, the knock-in price, and finishes below $10.71, the initial price, in which case the payout will be a number of First BanCorp shares equal to $1,000 divided by the initial share price. The knock-in price is 80% of the initial share price.

Issuer:	ABN Amro Bank NV
Agent:	LaSalle Financial Services, Inc.
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	First BanCorp
Amount:	$1 million
Maturity:	Oct. 11, 2007
Coupon:	13.25%, payable quarterly
Price:	Par
Payout at maturity:	If First BanCorp stock hits the knock-in price during the life of the notes and finishes below the initial price, 93.371 shares of First BanCorp stock; otherwise par in cash
Initial share price:	$10.71
Knock-in price:	$8.57, 80% of initial price
Exchange ratio:	93.371 shares, at maturity
Pricing date:	Oct. 5
Settlement date:	Oct. 11
Distribution:	Off shelf
Agent commission:	250 basis points

© 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.