Published on 11/25/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.29 million 12.65% reverse convertibles linked to Research in Motion
New York, Nov. 25 - ABN Amro Bank NV priced $0.292 million of 12.65% Knock-In Reverse Exchangeable notes due Feb. 26, 2010 linked to Research In Motion Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Research in Motion shares fall below the protection price of $41.67, 70% of the initial price of $59.53, during the life of the notes and finish below the initial price in which case the payout will be 16.798 shares of Research in Motion stock.
RBS Securities Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable notes
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Underlying stock: | Research In Motion Ltd. (Symbol: RIMM)
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Amount: | $0.292 million
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Maturity: | Feb. 26, 2010
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Coupon: | 12.65%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Research in Motion shares fall below the protection price of $41.67, 70% of the initial price, and finish below the initial price, in which case 16.798 shares of Research in Motion stock
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Initial price: | $59.53
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Protection price: | $41.67, 70% of $59.53
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Exchange ratio: | 16.798
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agent: | RBS Securities Inc.
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Fees: | 1.375%
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