Published on 3/31/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2.25 million 11% reverse convertibles linked to Schlumberger
New York, March 31 - ABN Amro Bank NV priced $2.25 million of 11% Knock-In Reverse Exchangeable notes due April 1, 2009 linked to Schlumberger N.V. (Schlumberger Ltd.) stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Schlumberger stock falls below the protection price of $56.24, 65% of the initial price of $86.52, during the life of the notes and finishes below the initial price in which case the payout will be 11.558 shares of Schlumberger stock.
ABN Amro 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: | Schlumberger N.V. (Schlumberger Ltd.)
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Amount: | $2.25 million
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Maturity: | April 1, 2009
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Coupon: | 11%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Schlumberger stock falls below the protection price of $56.24, 65% of the initial price, and finishes below the initial price, in which case 11.558 shares of Schlumberger stock
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Initial price: | $86.52
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Protection price: | $56.24, 65% of $86.52
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Exchange ratio: | 11.558
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Pricing date: | March 27
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Settlement date: | April 1
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Agent: | ABN Amro Inc.
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Fees: | 2.75%
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