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ABN Amro plans 10.5% reverse exchangeable securities linked to General Motors
By Laura Lutz
Des Moines, April 4 - ABN Amro Bank NV plans to price 10.5% reverse exchangeable securities due April 30, 2008 linked to the common stock of General Motors Corp., according to an FWP filing with the Securities and Exchange Commission.
The securities will price on April 25 and settle on April 30.
Interest will be payable monthly.
The payout at maturity will be par unless General Motors stock falls below the knock-in level - 60% of the initial share price - during the life of the securities and finishes below the initial share price, in which case the payout will be a number of General Motors shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. will be the lead agent.
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