Published on 1/29/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $750,000 11.2% reverse convertibles linked to Valero Energy
New York, Jan. 29 - ABN Amro Bank NV priced $750,000 of 11.2% Knock-In Reverse Exchangeable notes due July 30, 2008 linked to Valero Energy Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Valero Energy stock falls below the protection price of $43.67, 80% of the initial price of $54.59, during the life of the notes and finishes below the initial price in which case the payout will be 18.318 shares of Valero Energy 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: | Valero Energy Corp.
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Amount: | $750,000
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Maturity: | July 30, 2008
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Coupon: | 11.2%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Valero Energy stock falls below the protection price of $43.67, 80% of the initial price, and finishes below the initial price, in which case 18.318 shares of Valero Energy stock.
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Initial price: | $54.59
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Protection price: | $43.67, 80% of $54.59
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Exchange ratio: | 18.318
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Pricing date: | Jan. 25
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Settlement date: | Jan. 30
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Agent: | ABN Amro Inc.
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Agent fee: | 2.5%
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