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ABN Amro to price 10.75% reverse convertibles linked to Archer-Daniels-Midland
By Laura Lutz
Washington, Feb. 5 - ABN Amro Bank NV plans to price an issue of 10.75% reverse convertible notes due Feb. 29, 2008 linked to Archer-Daniels-Midland Co. common stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless Archer-Daniels-Midland stock falls below the knock-in price - 90% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Archer-Daniels-Midland shares equal to $1,000 divided by the initial share price.
The notes will price on Feb. 23 and settle on Feb. 28.
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