Published on 6/6/2006 in the Prospect News Convertibles Daily.
New Issue: ABN prices $1.05 million 10% Knock-in Reverse Exchangeables linked to Alcoa
By Jennifer Chiou
New York, June 6 - ABN Amro Bank NV priced a $1.05 million issue of 10% Knock-In Reverse Exchangeable notes due June 7, 2007 linked to Alcoa Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable senior medium-term series A notes
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Underlying stock: | Alcoa Inc.
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Amount: | $1.05 million
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Maturity: | June 7, 2007
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Coupon: | 10%, payable quarterly
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Price: | Par
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Payout at maturity: | If Alcoa stock closes below the knock-in price during the life of the notes and finishes below the initial price, 30.703 shares of Alcoa stock; otherwise par in cash
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Initial stock price: | $32.57
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Knock-in price: | $26.06, 80% of initial price
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Exchange ratio: | 30.703 shares, at maturity
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Pricing date: | June 2
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Settlement date: | June 7
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Agents: | LaSalle Financial Services Inc., ABN Amro Inc.
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Distribution: | Off shelf
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