Published on 8/27/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $3.05 million 15.3% reverse convertibles linked to Wells Fargo
New York, Aug. 27 - ABN Amro Bank NV priced $3.05 million of 15.3% Knock-In Reverse Exchangeable notes due Aug. 31, 2009 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 $20.08, 70% of the initial price of $28.69, during the life of the notes and finish below the initial price in which case the payout will be 34.855 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.
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Amount: | $3.05 million
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Maturity: | Aug. 31, 2009
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Coupon: | 15.3%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Wells Fargo shares fall below the protection price of $20.08, 70% of the initial price, and finish below the initial price, in which case 34.855 shares of Wells Fargo stock
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Initial price: | $28.69
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Protection price: | $20.08, 70% of $28.69
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Exchange ratio: | 34.855
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Pricing date: | Aug. 26
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Settlement date: | Aug. 29
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Agent: | ABN Amro Inc.
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Fees: | 3%
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