By Laura Lutz
Des Moines, Nov. 30 - ABN Amro Bank NV priced $4.8 million of 14.25% Knock-In Reverse Exchangeable Securities due Nov. 28, 2008 linked to Whole Foods Market, Inc. common stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
Payment at maturity will be determined according to the performance of Whole Foods stock. If the stock trades at or below the knock-in price - 60% of the initial price - during the life of the notes and finishes below the initial price, investors will receive a number of Whole Foods shares equal to par divided by the initial stock price.
Otherwise, investors will receive par in cash.
ABN Amro Inc. is the underwriter
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | Whole Foods Market, Inc. (NYSE: WFMI)
|
| Amount: | $4.8 million
|
| Maturity: | Nov. 28, 2008
|
| Coupon: | 14.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Whole Foods stock closes below the knock-in price during the life of the notes and finishes below the initial price, 23.815 shares of Whole Foods stock; otherwise, par in cash
|
| Initial price: | $41.99
|
| Knock-in price: | $25.19, 60% of initial price
|
| Exchange ratio: | 23.815 shares, at maturity
|
| Pricing date: | Nov. 28
|
| Settlement date: | Nov. 30
|
| Agent: | ABN Amro Inc.
|
| Fees: | 2.95%
|
| Distribution: | Off shelf
|
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