By Susanna Moon
Chicago, March 4 - ABN Amro Bank NV priced $1.5 million of 24% Knock-In Reverse Exchangeable Securities due Sept. 5, 2008 linked to Apple Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless Apple stock falls below the protection price - 85% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | Apple Inc. (Nasdaq: AAPL)
|
| Amount: | $1.5 million
|
| Maturity: | Sept. 5, 2008
|
| Coupon: | 24%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless the stock falls below the protection price during the life of the notes and finishes below the initial share price, in which case 7.999 Apple shares
|
| Initial share price: | $125.02
|
| Protection price: | $106.27, or 85% of initial price
|
| Pricing date: | Feb. 29
|
| Settlement date: | March 5
|
| Agent: | ABN Amro Inc.
|
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