Published on 11/24/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 26.25% reverse convertibles linked to Hewlett-Packard
New York, Nov. 24 - ABN Amro Bank NV priced $0.5 million of 26.25% Knock-In Reverse Exchangeable notes due Feb. 26, 2009 linked to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Hewlett-Packard shares fall below the protection price of $20.78, 60% of the initial price of $34.64, during the life of the notes and finish below the initial price in which case the payout will be 28.868 shares of Hewlett-Packard 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: | Hewlett-Packard Co. (Symbol: HPQ)
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Amount: | $0.5 million
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Maturity: | Feb. 26, 2009
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Coupon: | 26.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Hewlett-Packard shares fall below the protection price of $20.78, 60% of the initial price, and finish below the initial price, in which case 28.868 shares of Hewlett-Packard stock
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Initial price: | $34.64
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Protection price: | $20.78, 60% of $34.64
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Exchange ratio: | 28.868
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Pricing date: | Nov. 21
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Settlement date: | Nov. 26
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Agent: | ABN Amro Inc.
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Fees: | 3.25%
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