By Susanna Moon
Chicago, March 31 - ABN Amro Bank NV priced $1 million of 35.5% Knock-in Reverse Exchangeable Securities due July 2, 2008 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 - 70% 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
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | General Motors Corp. (NYSE: GM)
|
| Amount: | $1 million
|
| Maturity: | July 2, 2008
|
| Coupon: | 35.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock falls below knock-in level during life of securities and finishes below initial price, 53.562 General Motors shares; otherwise, par
|
| Initial price: | $18.67
|
| Knock-in price: | $13.07, or 70% of initial price
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Agent: | ABN Amro Inc.
|
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