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ABN Amro plans 15% Knock-in Reverse Exchangeables linked to Garmin
By Laura Lutz
Des Moines, Jan. 23 - ABN Amro Bank NV plans to price 15% Knock-in Reverse Exchangeable Securities due Jan. 30, 2009 linked to the common stock of Garmin Ltd., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Garmin stock falls below the knock-in level - 50% of the initial share price - during the life of the securities and finishes below the initial share price, the payout at maturity will be a number of Garmin shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The securities are expected to price on Jan. 28 and settle on Jan. 31.
ABN Amro Inc. is the lead agent.
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