Published on 12/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $100,000 12.75% Knock-in Reverse Exchangeables linked to Honeywell
By E. Janene Geiss
Philadelphia, Dec. 27 - ABN Amro Bank NV priced $100,000 of 12.75% Knock-in Reverse Exchangeable Securities due March 31, 2008 linked to the common shares of Honeywell International Inc., according to a 424B2 filing with the Securities and Exchange Commission.
If Honeywell shares fall below the knock-in price - 90% of the initial share price - during the life of the notes and close below the initial share price, investors will receive a number of shares equal to $1,000 divided by the initial share price.
Otherwise, the payout will be par.
ABN Amro 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: | Honeywell International Inc. (NYSE: HON)
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Amount: | $100,000
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Maturity: | March 31, 2008
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Coupon: | 12.75%, payable monthly
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Price: | Par
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Payout at maturity: | If Honeywell shares fall below the knock-in price during the life of the notes and finish below the initial share price, a number of shares equal to $1,000 divided by the initial share price; otherwise, par
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Initial share price: | $60.71
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Knock-in price: | $54.64, or 90% of initial share price
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Exchange ratio: | 16.472 shares, at maturity
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Pricing date: | Dec. 21
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Settlement date: | Dec. 31
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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