ABN Amro to price 21.2% reverse exchangeables linked to Schlumberger

By Angela McDaniels

Tacoma, Wash., Jan. 7 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due July 24, 2009 linked to the common stock of Schlumberger NV (Schlumberger Ltd.), according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will pay 10.6% for an annualized coupon of 21.2%. Interest will be payable monthly.

The payout at maturity will be par unless Schlumberger stock falls by more than 30% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Schlumberger shares equal to $1,000 divided by the initial share price.

The notes are expected to price on Jan. 21 and settle on Jan. 26.

ABN Amro Inc. is the agent.

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