By Susanna Moon
Chicago, Feb. 19 - ABN Amro Bank NV priced $21 million of 9.25% annualized Knock-in Reverse Exchangeable Securities due Aug. 20, 2008 linked to the shares of the SPDR Trust Series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the SPDR Trust shares fall below the knock-in level - 80% of the initial share price - during the life of the securities and finish below the initial price, the payout at maturity will be a number of shares equal to par divided by the initial price.
Otherwise, investors will receive par.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-in Reverse Exchangeable Securities
|
| Underlying shares: | SPDR Trust Series 1
|
| Amount: | $21 million
|
| Maturity: | Aug. 20, 2008
|
| Coupon: | 9.25%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If SPDR Trust shares fall below the knock-in price during the life of the notes and the final share price is less than the initial share price, 7.4 shares; otherwise, par
|
| Initial share price: | $135.13
|
| Knock-in price: | $108.10, 80% of initial share price
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.6%
|
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