By Jennifer Chiou
New York, June 7 - ABN Amro Bank NV priced $1.5 million of 10.25% Knock-in Reverse Exchangeable Securities due June 6, 2008 linked to Lehman Brothers Holdings Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payment at maturity will be determined according to the performance of Lehman stock. If the stock closes below $60.04, the knock-in price, during the life of the notes and finishes below $75.05, the initial stock price, investors will receive a number of Lehman shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial stock 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: | Lehman Brothers Holdings Inc.
|
| Amount: | $1.5 million
|
| Maturity: | June 6, 2008
|
| Coupon: | 10.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Lehman stock closes below the knock-in price of $60.04 during the life of the notes and finishes below the initial stock price, 14.42 shares of Lehman stock; otherwise, par in cash
|
| Initial stock price: | $75.05
|
| Knock-in price: | $60.04, 80% of initial stock price
|
| Exchange ratio: | 14.42 shares, at maturity
|
| Pricing date: | June 5
|
| Settlement date: | June 8
|
| Agent: | ABN Amro Inc.
|
| Fees: | 2.25%
|
| Distribution: | Off shelf
|
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