ABN Amro to price 17.5% reverse exchangeables linked to Sears

By Angela McDaniels

Tacoma, Wash., Jan. 12 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due April 30, 2009 linked to the common stock of Sears Holdings Corp., according to an FWP filing with the Securities and Exchange Commission.

The three-month notes will pay 4.375% for an annualized coupon of 17.5%. Interest will be payable monthly.

The payout at maturity will be par unless Sears stock falls by more than 45% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of Sears shares equal to $1,000 divided by the initial share price.

The notes are expected to price on Jan. 27 and settle on Jan. 30.

ABN Amro Inc. is the lead agent.

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