By Laura Lutz
Des Moines, March 28 - ABN Amro Bank NV priced $4 million of 22% Knock-in Reverse Exchangeable Securities due March 31, 2009 linked to the common stock of General Motors Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the stock falls below the knock-in level - 50% of the initial price - during the life of the securities 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.
ABN Amro Inc. is the lead agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | General Motors Corp. (NYSE: GM)
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Amount: | $4 million
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Maturity: | March 31, 2009
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Coupon: | 22%, payable monthly
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Price: | Par
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Payout at maturity: | If the stock falls below knock-in level during life of securities and finishes below initial price, General Motors shares equal to par divided by initial price; otherwise, par
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Initial price: | $19.48
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Knock-in price: | $9.74, 50% of initial price
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Pricing date: | March 26
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Settlement date: | March 31
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Agent: | ABN Amro Inc.
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Fees: | 4.25%
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