Published on 1/27/2010 in the Prospect News Structured Products Daily.
New Issue: ABN Amro prices $503,000 13.75% reverse exchangeables linked to Wynn Resorts
By Angela McDaniels
Tacoma, Wash., Jan. 27 - ABN Amro Bank NV priced $503,000 of Knock-in Reverse Exchangeable Securities due July 30, 2010 linked to the common stock of Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes pay 6.875% for an annualized coupon of 13.75%. Interest is payable monthly.
The payout at maturity will be par unless Wynn Resorts stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Wynn Resorts shares equal to $1,000 divided by the initial share price.
RBS Securities 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. (Symbol: WYNN)
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Amount: | $503,000
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Maturity: | July 30, 2010
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Coupon: | 13.75%, payable monthly
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Price: | Par
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Payout at maturity: | If Wynn Resorts stock falls below knock-in level during life of notes and finishes below initial share price, 15.911 Wynn Resorts shares; otherwise, par
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Initial share price: | $62.85
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Knock-in level: | $44.00 70% of initial price
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Pricing date: | Jan. 26
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Settlement date: | Jan. 29
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Agent: | RBS Securities Inc.
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Fees: | 2.25%
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Cusip: | 00083JNS3
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