Published on 4/22/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.215 million 10.5% reverse convertibles linked to Home Depot
New York, April 22 - ABN Amro Bank NV priced $0.215 million of 10.5% Knock-In Reverse Exchangeable notes due Oct. 23, 2009 linked to Home Depot, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Home Depot shares fall below the protection price of $15.52, 60% of the initial price of $25.87, during the life of the notes and finish below the initial price in which case the payout will be 38.655 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. (Symbol: HD)
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Amount: | $0.215 million
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Maturity: | Oct. 23, 2009
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Coupon: | 10.5%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Home Depot shares fall below the protection price of $15.52, 60% of the initial price, and finish below the initial price, in which case 38.655 shares of Home Depot stock
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Initial price: | $25.87
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Protection price: | $15.52, 60% of $25.87
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Exchange ratio: | 38.655
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Pricing date: | April 21
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Settlement date: | April 24
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Agent: | ABN Amro Inc.
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Fees: | 2.5%
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