By Laura Lutz
Des Moines, Feb. 26 - ABN Amro Bank NV priced $1.6 million of 13% Knock-in Reverse Exchangeable Securities due May 30, 2008 linked to Wyeth stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Wyeth stock falls below the protection price - 80% of the initial price - during the life of the notes and finishes below the initial price, the payout at maturity will be a number of Wyeth shares equal to par divided by the initial price.
Otherwise, the payout will be par in cash.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | Wyeth (Symbol: WYE)
|
| Amount: | $1.6 million
|
| Maturity: | May 30, 2008
|
| Coupon: | 13%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Wyeth stock falls below protection price during the life of notes and finishes below initial price, a number of Wyeth shares equal to par divided by initial price; otherwise, par in cash
|
| Initial price: | $42.64
|
| Protection price: | $34.11, 80% of $42.64
|
| Exchange ratio: | 23.452
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 29
|
| Agent: | ABN Amro Inc.
|
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