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ABN Amro plans 15.2% reverse exchangeables linked to Schering-Plough
By Angela McDaniels
Tacoma, Wash., April 7 - ABN Amro Bank NV plans to price 15.2% Knock-in Reverse Exchangeable Securities due April 30, 2009 linked to the common stock of Schering-Plough Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout maturity will be par unless Schering-Plough stock falls below the knock-in level - 70% of the initial share price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Schering-Plough shares equal to $1,000 divided by the initial price.
The notes are expected to price on April 25 and settle on April 30.
ABN Amro Inc. will be the lead agent.
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