Published on 11/26/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.3 million 10.75% reverse convertibles linked to Johnson & Johnson
New York, Nov. 26 - ABN Amro Bank NV priced $0.3 million of 10.75% Knock-In Reverse Exchangeable notes due May 29, 2009 linked to Johnson & Johnson shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Johnson & Johnson shares fall below the protection price of $47.29, 80% of the initial price of $59.11, during the life of the notes and finish below the initial price in which case the payout will be 16.918 shares of Johnson & Johnson 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: | Johnson & Johnson
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Amount: | $0.3 million
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Maturity: | May 29, 2009
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Coupon: | 10.75%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Johnson & Johnson shares fall below the protection price of $47.29, 80% of the initial price, and finish below the initial price, in which case 16.918 shares of Johnson & Johnson stock
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Initial price: | $59.11
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Protection price: | $47.29, 80% of $59.11
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Exchange ratio: | 16.918
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Pricing date: | Nov. 24
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Settlement date: | Nov. 28
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Agent: | ABN Amro Inc.
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Fees: | 1.75%
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