Published on 3/29/2007 in the Prospect News Structured Products Daily.
New Issue: ABN Amro sells $300,000 13.5% notes linked to SanDisk
By E. Janene Geiss
Philadelphia, March 29 - ABN Amro Bank NV priced $300,000 of 13.5% Knock-In Reverse Exchangeable Securities due March 31, 2008 linked to SanDisk Corp. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless SanDisk falls below the knock-in price of $35.84 during the life of the notes and finishes below the initial share price, in which case the payout will be a number of SanDisk shares equal to $1,000 divided by the initial share price.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable Securities
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Underlying stock: | SanDisk Corp.
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Amount: | $300,000
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Maturity: | March 31, 2008
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Coupon: | 13.5%, payable monthly
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Price: | Par
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Payout at maturity: | 22.321 shares of SanDisk stock if SanDisk shares fall below the knock-in price during the life of the notes and finish below the initial share price; otherwise, par
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Initial share price: | $44.80
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Knock-in price: | $35.84, 80% of initial price of $44.80
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Exchange ratio: | 22.321
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Pricing date: | March 27
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Settlement date: | March 30
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Agent: | ABN Amro Inc.
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Fees: | 2.5%
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