Published on 9/28/2006 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $1.3 million of 11% Knock-In Reverse Exchangeables linked to Apple
By Laura Lutz
Des Moines, Sept. 28 - ABN Amro Bank NV priced $1.3 million of 11% Knock-In Reverse Exchangeable notes due Sept. 29, 2007 linked to Apple Computer, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Apple stock. If the stock trades at or below 54.42, the knock-in price, and closes below $77.74, the initial price, between Sept. 26, 2006 and Sept. 26, 2007, investors will receive a number of Apple 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
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Apple Computer, Inc.
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Amount: | 1.3 million
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Maturity: | Sept. 29, 2007
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Coupon: | 11%, payable quarterly
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Price: | Par
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Payout at maturity: | If Apple stock closes below the knock-in price during the life of the notes and finishes below the initial price, 12.863 shares of Apple stock; otherwise, par in cash
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Initial price: | $77.74
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Knock-in price: | $54.42, 70% of initial price
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Exchange ratio: | 12.863 shares, at maturity
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Pricing date: | Sept. 26
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Settlement date: | Sept. 29
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Agent: | ABN Amro Inc.
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Distribution: | Off shelf
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