Published on 6/26/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $8 million 15.5% knock-in reverse exchangeables linked to IndyMac
By Laura Lutz
Des Moines, June 26 - ABN Amro Bank NV priced $8 million of 15.5% Knock-in Reverse Exchangeable Securities due Dec. 27, 2007 linked to IndyMac Bancorp, Inc. stock via LaSalle Financial Services, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of IndyMac stock. If the stock trades at or below $21.924, the knock-in price, and closes below $31.32, the initial price, during the life of the notes, investors will receive a number of IndyMac shares equal to $1,000 divided by the initial stock price. The knock-in price is 70% of the initial price.
Otherwise, investors will receive par in cash.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | IndyMac Bancorp, Inc.
|
| Amount: | $8 million
|
| Maturity: | Dec. 27, 2007
|
| Coupon: | 15.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If IndyMac stock closes below the knock-in price during the life of the notes and finishes below the initial price, 31.928 shares of IndyMac stock; otherwise, par in cash
|
| Initial price: | $31.32
|
| Knock-in price: | $21.924, 70% of initial price
|
| Exchange ratio: | 31.928 shares, at maturity
|
| Pricing date: | June 22
|
| Settlement date: | June 27
|
| Agent: | LaSalle Financial Services
|
| Fees: | 2.25%
|
| Distribution: | Off shelf
|
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