By E. Janene Geiss
Philadelphia, May 30 - ABN Amro Bank NV priced $1.85 million of Knock-in Reverse Exchangeable Securities due Aug. 31, 2007 linked to eBay Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The three-month notes will pay 3.65% for an annualized rate of 14.6%. Interest is payable monthly.
Payment at maturity will be determined according to the performance of eBay stock. If the stock trades at or below $29.44, the knock-in price, and closes below $32.71, the initial stock price, during the life of the notes, investors will receive a number of eBay shares equal to $1,000 divided by the initial stock price. The knock-in price is 90% of the initial stock 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: | eBay Inc.
|
| Amount: | $1.85 million
|
| Maturity: | Aug. 31, 2007
|
| Coupon: | 14.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If eBay stock closes below the knock-in price of $29.44 during the life of the notes and finishes below the initial stock price, 30.572 shares of eBay stock; otherwise, par in cash
|
| Initial stock price: | $32.71
|
| Knock-in price: | $29.44, 90% of initial stock price
|
| Exchange ratio: | 30.572 shares, at maturity
|
| Pricing date: | May 24
|
| Settlement date: | May 31
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.375%
|
| Distribution: | Off shelf
|
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