By Laura Lutz
Des Moines, Sept. 5 - ABN Amro Bank NV priced $4.5 million of 36.75% Knock-in Reverse Exchangeable Securities due Dec. 10, 2007 linked to American Depositary Shares representing ordinary shares of Elan Corp., plc, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payment at maturity will be determined according to the performance of Elan ADSs. If the ADS price closes below $15.50, the knock-in price, during the life of the notes and closes below $19.38, the initial ADS price, on the final valuation date, investors will receive a number of Elan ADSs equal to $1,000 divided by the initial ADS price. The knock-in price is 80% of the initial ADS price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Elan Corp., plc (NYSE: ELN)
|
| Amount: | $4.5 million
|
| Maturity: | Dec. 10, 2007
|
| Coupon: | 36.75%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Elan ADSs close below the knock-in price during the life of the notes and finish below the initial ADS price, 51.6 Elan ADSs; otherwise, par in cash
|
| Initial ADS price: | $19.38
|
| Knock-in price: | $15.50, 80% of initial ADS price
|
| Exchange ratio: | 51.6 shares, at maturity
|
| Pricing date: | Aug. 31
|
| Settlement date: | Sept. 10
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.375%
|
| Distribution: | Off shelf
|
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