Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for ABN Amro Bank NV > News item |
ABN Amro plans issue of 17% Knock-In Reverse Exchangeables linked to Sirius
By Angela McDaniels
Seattle, March 28 - ABN Amro Bank NV plans to price an issue of 17% (annualized) Knock-In Reverse Exchangeable notes due Jan. 12, 2007 linked to Sirius Satellite Radio Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The nine-month notes will pay 12.75% interest, which is equivalent to an annualized interest rate of 17%. Interest will be payable quarterly.
The proposed pricing date is April 7.
Payment at maturity will be based on the performance of Sirius stock:
• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Sirius shares equal to $1,000 divided by the initial stock price. The knock-in price will be 70% of the initial price;
• Otherwise the payout is par in cash.
LaSalle Financial Services Inc. and ABN Amro Inc. will be agents for the offering.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.