Published on 3/28/2005 in the Prospect News Convertibles Daily.
New Issue: ABN Amro sells $725,000 13.5% reverse exchangeables linked to Valero
By Caroline Salls
Pittsburgh, March 28 - ABN Amro Bank NV priced $725,000 nine-month 13.5% reverse exchangeable notes linked to Valero Energy Corp. common stock, according to a 424B3 filing with the Securities and Exchange Commission.
Issuer: | ABN Amro Bank NV
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Issue: | Reverse exchangeable senior medium-term notes
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Underlying stock: | Valero Energy Corp.
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Amount: | $725,000
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Maturity: | Dec. 23, 2005
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Coupon: | 13.5%
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Price: | Par
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Payout at maturity: | Smaller of par in cash or 14.388 shares of Valero common stock
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Exchange ratio: | 14.388
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Exchange price: | $69.50 (initial level of Valero stock)
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Call: | Non-callable
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Pricing date: | March 18
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Settlement date: | March 23
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Lead manager: | ABN Amro Financial Services
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Distribution: | Off shelf
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