By Laura Lutz
Des Moines, March 12 - ABN Amro Bank NV priced $1.35 million of 22.6% annualized Knock-In Reverse Exchangeable notes due Sept. 12, 2008 linked to First Solar, Inc. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If First Solar stock falls below the protection price - 60% 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 First Solar 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 notes
|
| Underlying stock: | First Solar, Inc. (Symbol: FSLR)
|
| Amount: | $1.35 million
|
| Maturity: | Sept. 12, 2008
|
| Coupon: | 22.6%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If First Solar stock falls below protection price during the life of notes and finishes below initial price, First Solar shares equal to par divided by initial price; otherwise, par in cash
|
| Initial price: | $198.11
|
| Protection price: | $118.87, 60% of $198.11
|
| Exchange ratio: | 5.048
|
| Pricing date: | March 11
|
| Settlement date: | March 14
|
| Agent: | ABN Amro Inc. (lead)
|
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