Published on 1/28/2010 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.34 million 18.25% reverse convertibles linked to Sandisk
New York, Jan. 28 - ABN Amro Bank NV priced $0.338 million of 18.25% Knock-In Reverse Exchangeable notes due April 30, 2010 linked to Sandisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Sandisk shares fall below the protection price of $20.46, 70% of the initial price of $29.23, during the life of the notes and finish below the initial price in which case the payout will be 34.211 shares of Sandisk 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: | Sandisk Corp. (Symbol: SNDK)
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Amount: | $0.338 million
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Maturity: | April 30, 2010
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Coupon: | 18.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Sandisk shares fall below the protection price of $20.46, 70% of the initial price, and finish below the initial price, in which case 34.211 shares of Sandisk stock
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Initial price: | $29.23
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Protection price: | $20.46, 70% of $29.23
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Exchange ratio: | 34.211
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agent: | RBS Securities Inc.
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Fees: | 1.375%
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Cusip: | 00083JPQ5
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