ABN Amro plans to sell 14% reverse exchangeables linked to U.S. Steel

By Susanna Moon

Chicago, Jan. 11 - ABN Amro Bank NV plans to price 14% annualized Knock-In Reverse Exchangeable notes due April 30, 2010 based on the performance of United States Steel Corp. shares, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par in cash unless U.S. Steel shares fall below the protection price - 80% of the initial price - during the life of the notes and finish below the initial price in which case the payout will be a number of U.S. Steel shares equal $1,000 divided by the initial share price.

The notes will price on Jan. 26 and settle on Jan. 29.

RBS Securities Inc. is the agent.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.