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ABN Amro plans 15.5% knock-in notes linked to Schering-Plough
By Jennifer Chiou
New York, Aug. 8 - ABN Amro Bank NV plans to price 15.5% annualized Knock-in Reverse Exchangeable Securities S-Notes due Nov. 28, 2008 linked to the common stock of Schering-Plough Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Schering-Plough stock falls below the knock-in level - 80% of the initial share price - during the life of the securities and finishes below the initial share price, the payout at maturity will be a number of Schering-Plough shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The securities are expected to price on Aug. 26 and settle on Aug. 29.
ABN Amro Inc. is the lead agent.
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