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ABN Amro plans 18.5% reverse exchangeables linked to General Electric
By Jennifer Chiou
New York, April 22 - ABN Amro Bank NV plans to price 18.5% Knock-in Reverse Exchangeable Securities due April 30, 2010 linked to the common stock of General Electric Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless General Electric stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of General Electric shares equal to $1,000 divided by the initial share price.
The notes are expected to price on April 27 and settle on April 30.
ABN Amro Inc. is the agent.
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