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ABN Amro plans 23% knock-in notes linked to General Motors
By Susanna Moon
Chicago, June 13 - ABN Amro Bank NV plans to price 23% annualized Knock-in Reverse Exchangeable Securities due Dec. 24, 2008 linked to the common stock of General Motors Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless General Motors stock falls below its knock-in level - 60% of the initial share price - during the life of the securities and finishes below its initial share price, in which case the payout will be a number of General Motors shares equal to par divided by the initial share price.
The notes are expected to price on June 20 and settle on June 25.
ABN Amro Inc. is the lead agent.
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