Published on 5/7/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.463 million 20% reverse convertibles linked to Freeport-McMoRan
New York, May 7 - ABN Amro Bank NV priced $0.463 million of 20% Knock-In Reverse Exchangeable notes due Jan. 8, 2010 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 $36.30, 70% of the initial price of $51.85, during the life of the notes and finish below the initial price in which case the payout will be 19.286 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: | $0.463 million
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Maturity: | Jan. 8, 2010
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Coupon: | 20%, 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 $36.30, 70% of the initial price, and finish below the initial price, in which case 19.286 shares of Freeport-McMoRan stock
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Initial price: | $51.85
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Protection price: | $36.30, 70% of $51.85
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Exchange ratio: | 19.286
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Pricing date: | May 6
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Settlement date: | May 8
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Agent: | ABN Amro Inc.
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Fees: | 3.75%
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