By Laura Lutz
Des Moines, May 7 - ABN Amro Bank NV priced $1.3 million of 21.4% annualized Knock-in Reverse Exchangeable Securities due Nov. 7, 2008 linked to the common stock of Fannie Mae, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Fannie Mae stock falls below the knock-in level - 60% of the initial share price - during the life of the securities and finishes below the initial share price, the payout at maturity will be a number of Fannie Mae shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
ABN Amro Inc. is the lead agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | Fannie Mae (Symbol: FNM)
|
| Amount: | $1.3 million
|
| Maturity: | Nov. 7, 2008
|
| Coupon: | 21.4%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Fannie Mae stock falls below knock-in level, 60% of initial level, during life of securities and finishes below initial price, par divided by initial price; otherwise, par
|
| Initial price: | $30.81
|
| Knock-in price: | $18.49, 60% of initial price
|
| Pricing date: | May 6
|
| Settlement date: | May 9
|
| Agent: | ABN Amro Inc.
|
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