Published on 9/26/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.5 million 9% reverse convertibles linked to Home Depot
New York, Sept. 26 - ABN Amro Bank NV priced $0.5 million of 9% Knock-In Reverse Exchangeable notes due March 27, 2008 linked to Home Depot, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Home Depot stock falls below the protection price, 80% of the initial price of $33.88, during the life of the notes and finishes below the initial price in which case the payout will be 29.516 shares of Home Depot 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: | Home Depot, Inc.
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Amount: | $0.5 million
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Maturity: | March 27, 2008
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Coupon: | 9%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Home Depot stock falls below the protection price, 80% of the initial price, and finishes below the initial price, in which case 29.516 shares of Home Depot stock.
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Initial price: | $33.88
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Exchange ratio: | 29.516
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Pricing date: | Sept. 24
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Settlement date: | Sept. 27
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Agent: | ABN Amro Inc.
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Agent fee: | 2.5%
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