Published on 3/27/2008 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $2 million 10.4% reverse convertibles linked to Wyeth
New York, March 27 - ABN Amro Bank NV priced $2 million of 10.4% Knock-In Reverse Exchangeable notes due March 31, 2009 linked to Wyeth stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payout at maturity will be par in cash unless Wyeth stock falls below the protection price of $29.28, 70% of the initial price of $41.83, during the life of the notes and finishes below the initial price in which case the payout will be 23.906 shares of Wyeth 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: | Wyeth
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Amount: | $2 million
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Maturity: | March 31, 2009
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Coupon: | 10.4%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless Wyeth stock falls below the protection price of $29.28, 70% of the initial price, and finishes below the initial price, in which case 23.906 shares of Wyeth stock
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Initial price: | $41.83
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Protection price: | $29.28, 70% of $41.83
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Exchange ratio: | 23.906
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 3.09%
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