Published on 4/27/2007 in the Prospect News Structured Products Daily.
New Issue: ABN sells $1.1 million 11.5% knock-in notes linked to Wynn Resorts
By E. Janene Geiss
Philadelphia, April 27 - ABN Amro Bank NV priced $1.1 million of 11.5% Knock-in Reverse Exchangeable Securities due April 30, 2008 linked to Wynn Resorts, Ltd. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Payment at maturity will be determined according to the performance of Wynn Resorts stock. If the stock falls below $84.38, the knock-in price, during the life of the notes and finishes below $105.47, the initial price, investors will receive a number of Wynn Resorts shares equal to $1,000 divided by the initial price. The knock-in price is 80% of the initial price.
Otherwise, investors will receive par in cash.
ABM Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | Wynn Resorts, Ltd.
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Amount: | $1.1 million
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Maturity: | April 30, 2008
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Coupon: | 11.5% annualized, payable monthly
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Price: | Par
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Payout at maturity: | If Wynn Resorts stock closes below the knock-in price of $84.38 during the life of the notes and finishes below the initial price, 9.481 shares of Wynn Resorts stock; otherwise, par in cash
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Initial price: | $105.47
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Knock-in price: | $84.38, 80% of initial price
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Exchange ratio: | 9.481 shares, at maturity
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | ABN Amro Inc.
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Agent fees: | 2.5%
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