By Jennifer Chiou
New York, June 28 - ABN Amro Bank NV priced $1.45 million of 17.5% annualized Knock-in Reverse Exchangeable Securities due Sept. 28, 2007 linked to the common stock of XM Satellite Radio Holdings Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless XM Satellite stock closes below the knock-in level of $8.992 during the life of the notes and closes below the initial share price of $11.24 on the third trading day prior to maturity, in which case the payout will be a number of XM Satellite shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying stock: | XM Satellite Radio Holdings Inc.
|
| Amount: | $1.45 million
|
| Maturity: | Sept. 28, 2007
|
| Coupon: | 17.5% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If XM Satellite stock falls by more than 20% during the life of the notes and finishes below the initial share price, 88.968 XM Satellite shares; otherwise, par
|
| Initial share price: | $11.24
|
| Knock-in level: | $8.992, 80% of initial share price
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.875%
|
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