Published on 3/27/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.126 million 14% reverse convertibles linked to Freeport-McMoRan
New York, March 27 - ABN Amro Bank NV priced $0.126 million of 14% Knock-In Reverse Exchangeable notes due June 30, 2009 linked to Freeport-McMoRan Copper & Gold Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Freeport-McMoRan shares fall below the protection price of $23.68, 55% of the initial price of $43.05, during the life of the notes and finish below the initial price in which case the payout will be 23.229 shares of Freeport-McMoRan 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: | Freeport-McMoRan Copper & Gold Inc. (Symbol: FCX)
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Amount: | $0.126 million
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Maturity: | June 30, 2009
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Coupon: | 14%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Freeport-McMoRan shares fall below the protection price of $23.68, 55% of the initial price, and finish below the initial price, in which case 23.229 shares of Freeport-McMoRan stock
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Initial price: | $43.05
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Protection price: | $23.68, 55% of $43.05
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Exchange ratio: | 23.229
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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