Published on 7/21/2004 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $10.5 million 10% reverse exchangeables linked to ING
New York, July 21 - ABN Amro Bank NV priced $10.5 million of one-year 10% reverse exchangeable notes linked to the American Depositary Receipts of ING Groep NV, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse exchangeable senior medium-term notes
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Underlying stock: | ING Groep NV American Depositary Receipts
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Amount: | $10.5 million
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Maturity: | July 21, 2005
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Coupon: | 10%
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Price: | Par
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Payout at maturity: | Smaller of par in cash or 43.745 ING ADRs
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Exchange ratio: | 43.745
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Exchange price: | $22.86 (initial level of ING ADRs)
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Call: | Non-callable
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Pricing date: | July 16
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Settlement date: | July 21
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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