Published on 7/13/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1 million 13.6% reverse convertibles linked to Hercules Offshore
New York, July 13 - ABN Amro Bank NV priced $1 million of 13.6% reverse convertible notes due Dec. 28, 2007 linked to Hercules Offshore, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Hercules Offshore stock falls below the protection price, 70% of the initial price of $33.54, during the life of the notes and finishes below the initial price in which case the payout will be 29.815 shares of Hercules Offshore stock.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse convertible notes
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Underlying stock: | Hercules Offshore, Inc.
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Amount: | $1 million
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Maturity: | Dec. 28, 2007
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Coupon: | 13.6%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Hercules Offshore stock falls below the protection price, 70% of the initial price, and finishes below the initial price, in which case 29.815 shares of Hercules Offshore stock
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Initial price: | $33.54
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Exchange ratio: | 29.815
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Pricing date: | July 11
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Settlement date: | July 16
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Agent: | ABN Amro Inc.
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Agent fee: | 1.55%
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