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ABN Amro to sell 10.6% Knock-in Reverse Exchangeables linked to CSX
By Angela McDaniels
Seattle, May 4 - ABN Amro Bank NV plans to price an offering of Knock-in Reverse Exchangeable Securities due Nov. 30, 2007 linked to the common stock of CSX Corp., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 5.3% for an annualized rate of 10.6%. Interest will be payable monthly.
The payout at maturity will be par unless CSX stock closes below the knock-in price - 80% 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 CSX shares equal to $1,000 divided by the initial share price.
The notes will price on May 24 and settle on May 31.
ABN Amro Inc. will be the agent.
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