Published on 6/29/2009 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $0.188 million 15.25% reverse convertibles linked to Schlumberger
New York, June 29 - ABN Amro Bank NV priced $0.188 million of 15.25% Knock-In Reverse Exchangeable notes due Sept. 30, 2009 linked to Schlumberger N.V. (Schlumberger Ltd.) shares, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par in cash unless Schlumberger shares fall below the protection price of $41.51, 75% of the initial price of $55.25, during the life of the notes and finish below the initial price in which case the payout will be 18.067 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.) (Symbol: SLB)
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Amount: | $0.188 million
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Maturity: | Sept. 30, 2009
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Coupon: | 15.25%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Schlumberger shares fall below the protection price of $41.51, 75% of the initial price, and finish below the initial price, in which case 18.067 shares of Schlumberger stock
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Initial price: | $55.25
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Protection price: | $41.51, 75% of $55.25
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Exchange ratio: | 18.067
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Pricing date: | June 25
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Settlement date: | June 30
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Agent: | ABN Amro Inc.
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Fees: | 1.375%
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