By Laura Lutz
Des Moines, Jan. 18 - ABN Amro Bank NV priced $600,000 of 14.5% annualized Knock-in Reverse Exchangeable Securities due July 23, 2008 linked to the common stock of Valero Energy Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the stock falls below the knock-in level - 80% of the initial price - during the life of the securities and finishes below the initial price, the payout at maturity will be a number of Valero shares equal to par divided by the initial price.
Otherwise, the payout will be par.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Valero Energy Corp. (Symbol: VLO)
|
| Amount: | $600,000
|
| Maturity: | July 14, 2008
|
| Coupon: | 14.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock falls below knock-in level during life of securities and finishes below initial price, Valero shares equal to par divided by initial price; otherwise, par
|
| Initial price: | $52.12
|
| Knock-in price: | $41.70, 80% of initial price
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Agent: | ABN Amro Inc.
|
© 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.
