Published on 6/23/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $1.2 million 15% reverse convertibles linked to Wells Fargo
New York, June 23 - ABN Amro Bank NV priced $1.2 million of 15% Knock-In Reverse Exchangeable notes due Dec. 24, 2008 linked to Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Wells Fargo shares fall below the protection price of $15.93, 65% of the initial price of $24.50, during the life of the notes and finishes below the initial price in which case the payout will be 40.816 shares of Wells Fargo 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: | Wells Fargo & Co. (Symbol: WFC)
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Amount: | $1.2 million
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Maturity: | Dec. 24, 2008
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Coupon: | 15%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Wells Fargo stock falls below the protection price of $15.93, 65% of the initial price, and finishes below the initial price, in which case 40.816 shares of Wells Fargo stock
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Initial price: | $24.50
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Protection price: | $15.93, 65% of $24.50
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Exchange ratio: | 40.816
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Pricing date: | June 20
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Settlement date: | June 25
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Agent: | ABN Amro Inc.
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Fees: | 1.875%
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