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ABN Amro to price 9% reverse convertibles linked to SLM via LaSalle
By Laura Lutz
Washington, Jan. 29 - ABN Amro Bank NV plans to price an issue of 9% reverse convertible notes due Feb. 14, 2008 linked to SLM Corp. common stock, according to a term sheet.
Interest will be payable monthly.
The payout at maturity will be par unless SLM stock falls below the knock-in price - 80% 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 SLM shares equal to $1,000 divided by the initial share price.
The notes will price on Feb. 9 and settle on Feb. 14.
LaSalle Financial Services, Inc. will be the lead agent.
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