Published on 12/21/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.25 million 25% Knock-in Reverse Exchangeables linked to Research in Motion
By E. Janene Geiss
Philadelphia, Dec. 21 - ABN Amro Bank NV priced $1.25 million of Knock-in Reverse Exchangeable Securities due June 27, 2008 linked to Research in Motion Ltd. stock, according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 12.5% for an annualized rate of 25%. Interest will be payable monthly.
Payout at maturity will be par in cash unless Research in Motion stock falls below the protection price of $61.28, 60% of the initial price of $102.13, during the life of the notes and finishes below the initial price, in which case the payout will be 9.791 shares of Research in Motion stock.
ABN Amro Inc. is the agent.
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. (Symbol: RIMM)
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Amount: | $1.25 million
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Maturity: | June 27, 2008
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Coupon: | 25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Research in Motion stock falls below the protection price of $61.28, 60% of the initial price, and finishes below the initial price, in which case 9.791 shares of Research in Motion stock
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Initial price: | $102.13
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Protection price: | $61.28, 60% of $102.13
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Exchange ratio: | 9.791
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Pricing date: | Dec. 19
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Settlement date: | Dec. 27
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Agent: | ABN Amro Inc.
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