Published on 1/9/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $300,000 14.75% knock-in reverse notes linked to Research in Motion
By Laura Lutz
Des Moines, Jan. 9 - ABN Amro Bank NV priced $300,000 of 14.75% Knock-in Reverse Exchangeable Securities due July 10, 2007 linked to Research in Motion Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Research in Motion stock. If the stock trades at or below $98.91, the knock-in price, and closes below $141.30, the initial price, between Jan. 5, 2006 and July 10, 2007, investors will receive a number of Research in Motion 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 Securities
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Underlying stock: | Research in Motion Ltd.
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Amount: | $300,000
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Maturity: | July 10, 2007
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Coupon: | 14.75%, payable monthly
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Price: | Par
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Payout at maturity: | If Research in Motion stock closes below the knock-in price during the life of the notes and finishes below the initial price, 7.077 shares of Research in Motion stock; otherwise, par in cash
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Initial price: | $141.30
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Knock-in price: | $98.91, 70% of initial price
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Exchange ratio: | 7.077 shares, at maturity
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Pricing date: | Jan. 5
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Settlement date: | Jan. 10
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Agent: | ABN Amro Inc.
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Fees: | 2%
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Distribution: | Off shelf
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