Published on 1/27/2010 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $685,000 10.15% reverse exchangeables linked to Hartford Financial
By Jennifer Chiou
New York, Jan. 27 - ABN Amro Bank NV priced $685,000 of 10.15%.annualized Knock-in Reverse Exchangeable Securities due April 30, 2010 linked to the common stock of Hartford Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless Hartford Financial stock falls by more than 20% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Hartford Financial 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: | Hartford Financial Services Group, Inc. (Symbol: HIG)
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Amount: | $685,000
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Maturity: | April 30, 2010
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Coupon: | 10.15%, payable monthly
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Price: | Par
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Payout at maturity: | If Hartford Financial stock falls below knock-in level during life of notes and finishes below initial share price, 40.967 Hartford Financial shares; otherwise, par
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Initial share price: | $24.41
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Knock-in level: | $19.53, 80% of initial price
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agent: | RBS Securities Inc.
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Fees: | 2%
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Cusip: | 00083JNW4
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