By E. Janene Geiss
Philadelphia, April 27 - ABN Amro Bank NV priced $3.775 million of 14% Knock-in Reverse Exchangeable Securities due Oct. 31, 2007 linked to Las Vegas Sands Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes will pay 7% for an annualized coupon of 14%.
Payment at maturity will be determined according to the performance of Las Vegas Sands stock. If the stock falls below $67.66, the knock-in price, during the life of the notes and finishes below $90.12, the initial price, investors will receive a number of Las Vegas Sands shares equal to $1,000 divided by the initial price. The knock-in price is 75% of the initial price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Las Vegas Sands Corp.
|
| Amount: | $3.775 million
|
| Maturity: | Oct. 31, 2007
|
| Coupon: | 14% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Las Vegas Sands stock closes below the knock-in price during the life of the notes and finishes below the initial price, 11.085 shares of Las Vegas Sands stock; otherwise, par in cash
|
| Initial price: | $90.21
|
| Knock-in price: | $67.66, 75% of initial price
|
| Exchange ratio: | 11.085 shares, at maturity
|
| Pricing date: | April 25
|
| Settlement date: | April 30
|
| Agent: | ABN Amro Inc.
|
| Agent fees: | 1.75%
|
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