By Laura Lutz
Des Moines, Feb. 11 - ABN Amro Bank NV priced $6.5 million of 16.5% Knock-In Reverse Exchangeable Securities due Feb. 15, 2009 linked to General Motors Corp. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
If General Motors stock falls below the protection price - 50% of the initial price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of General Motors shares equal to par divided by the initial price.
Otherwise, the payout will be par in cash.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | General Motors Corp. (Symbol: GM)
|
| Amount: | $6.5 million
|
| Maturity: | Feb. 15, 2009
|
| Coupon: | 16.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If General Motors stock falls below protection price during the life of notes and finishes below initial price, General Motors shares equal to par divided by initial price; otherwise, par in cash
|
| Initial price: | $25.80
|
| Protection price: | $12.90, 50% of $25.80
|
| Exchange ratio: | 38.76
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 15
|
| Agent: | ABN Amro Inc.
|
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