New Issue: ABN Amro prices $250,000 16% six-month notes linked to Red Hat

By E. Janene Geiss

Philadelphia, March 30 - ABN Amro Bank NV priced a $250,000 offering of Knock-in Reverse Exchangeable Securities due Sept. 28, 2007 linked to the common stock of Red Hat, Inc. according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 8% at maturity for an annualized rate of 16%.

The payout at maturity, in addition to interest, will be par unless Red Hat stock falls below the knock-in level of $18.96 during the life of the notes and finishes below the initial share price of $23.70, in which case the payout will be a number of Red Hat shares equal to $1,000 divided by the initial share price.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Red Hat, Inc.
Amount:	$250,000
Maturity:	Sept. 28, 2007
Coupon:	16%, payable at maturity
Price:	Par
Payout at maturity:	If Red Hat stock falls below the knock-in level of $18.96 during the life of the notes and finishes below the initial share price, 42.194 Red Hat shares; otherwise, par
Initial share price:	$23.70
Knock-in level:	$18.96, 80% of initial share price
Pricing date:	March 27
Settlement date:	March 30
Agent:	ABN Amro Inc.
Agent fees:	1.75%

© 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.