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ABN Amro plans 15.25% Knock-in Reverse Exchangeables linked to Onyx
By Jennifer Chiou
New York, Aug. 2 - ABN Amro Bank NV plans to price 15.25% Knock-in Reverse Exchangeable Securities due Aug. 29, 2008 linked to the common stock of Onyx Pharmaceuticals, Inc., according to a term sheet.
Interest will be payable monthly.
The payout at maturity will be par unless the stock falls below its knock-in-price - 70% of the initial price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Onyx Pharmaceuticals shares equal to $1,000 divided by the initial stock price.
The notes will price on Aug. 27 and settle on Aug. 30.
LaSalle Financial Services, Inc. is the lead agent.
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