By Laura Lutz
Des Moines, May 6 - ABN Amro Bank NV priced $4 million of 13.5% Knock-in Reverse Exchangeable Securities due May 8, 2009 linked to the common stock of Target Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the stock falls below the knock-in level - 70% of the initial price - during the life of the securities and finishes below the initial price, the payout at maturity will be a number of Target shares equal to par divided by the initial price.
Otherwise, the payout will be par.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Target Corp. (Symbol: TGT)
|
| Amount: | $4 million
|
| Maturity: | May 8, 2009
|
| Coupon: | 13.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the stock falls below knock-in level during life of securities and finishes below initial price, Target shares equal to par divided by initial price; otherwise, par
|
| Initial price: | $53.19
|
| Knock-in price: | $37.23, 70% of initial price
|
| Pricing date: | May 5
|
| Settlement date: | May 9
|
| Agent: | ABN Amro Inc.
|
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