New Issue: ABN Amro sells $2 million 11.75% Knock-in Reverse Exchangeables linked to Mylan

By Jennifer Chiou

New York, May 16 - ABN Amro Bank NV priced $2 million of 11.75% annualized Knock-in Reverse Exchangeable Securities due Nov. 16, 2007 linked to Mylan Laboratories Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Mylan stock. If the stock trades at or below $15.78, the knock-in price, and closes below $19.73, the initial stock price, during the life of the notes, investors will receive a number of Mylan shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial stock price.

Otherwise, investors will receive par in cash.

LaSalle Financial Services, Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Mylan Laboratories Inc.
Amount:	$2 million
Maturity:	Nov. 16, 2007
Coupon:	11.75%, payable monthly
Price:	Par
Payout at maturity:	If Mylan stock closes below the knock-in price of $15.78 during the life of the notes and finishes below the initial stock price, 50.684 shares of Mylan stock; otherwise, par in cash
Initial stock price:	$19.73
Knock-in price:	$15.78, 80% of initial sock price
Exchange ratio:	50.684 shares, at maturity
Pricing date:	May 15
Settlement date:	May 18
Agent:	LaSalle Financial Services, Inc.
Fees:	1.5%
Distribution:	Off shelf

© 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.