Published on 12/31/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $457,000 14.75% reverse exchangeables linked to First Solar
By E. Janene Geiss
Philadelphia, Dec. 30 - ABN Amro Bank NV priced $457,000 of 14.75% annualized Knock-in Reverse Exchangeable Securities due March 31, 2010 linked to the common stock of First Solar, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless First Solar stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of First Solar shares equal to $1,000 divided by the initial share price.
RBS Securities Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | First Solar, Inc. (Symbol: FSLR)
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Amount: | $457,000
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Maturity: | March 31, 2010
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Coupon: | 14.75%, payable monthly
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Price: | Par
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Payout at maturity: | If First Solar falls below knock-in level of $92.81 during life of notes and finishes below initial share price, 7.543 First Solar shares; otherwise, par
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Initial share price: | $132.58
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Knock-in level: | $92.81, 70% of initial price
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Pricing date: | Dec. 23
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Settlement date: | Dec. 31
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Agent: | RBS Securities Inc.
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Fees: | 1.375%
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