Published on 2/21/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.35 million 28.5% reverse convertibles linked to First Solar
New York, Feb. 21 - ABN Amro Bank NV priced $0.35 million of 28.5% Knock-In Reverse Exchangeable notes due Aug. 22, 2008 linked to First Solar, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless First Solar stock falls below the protection price of $127.16, 60% of the initial price of $211.94, during the life of the notes and finishes below the initial price in which case the payout will be 4.718 shares of First Solar 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: | First Solar, Inc.
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Amount: | $0.35 million
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Maturity: | Aug. 22, 2008
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Coupon: | 28.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless First Solar stock falls below the protection price of $127.16, 60% of the initial price, and finishes below the initial price, in which case 4.718 shares of First Solar stock
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Initial price: | $211.94
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Protection price: | $127.16, 60% of $211.94
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Exchange ratio: | 4.718
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Pricing date: | Feb. 19
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Settlement date: | Feb. 22
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Agent: | ABN Amro Inc.
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Fees: | 2.25%
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