By E. Janene Geiss
Philadelphia, June 29 - ABN Amro Bank NV priced $1 million of Knock-in Reverse Exchangeable Securities due Dec. 31, 2007 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The six-month notes will pay 6.75% for an annualized rate of 13.5%. Interest is payable monthly.
The payout at maturity will be par unless Freeport-McMoRan stock closes below the knock-in level of $62.67 during the life of the notes and closes below the initial share price of $78.35 on the third trading day prior to maturity, in which case the payout will be a number of Freeport-McMoRan 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: | Freeport-McMoRan Copper & Gold Inc.
|
| Amount: | $1 million
|
| Maturity: | Dec. 31, 2007
|
| Coupon: | 13.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If Freeport-McMoRan stock falls by more than 20% during the life of the notes and finishes below the initial share price, 12.765 Freeport-McMoRan shares; otherwise, par
|
| Initial share price: | $78.34
|
| Knock-in level: | $62.67, 80% of initial share price
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | ABN Amro Inc.
|
| Fees: | 1.75%
|
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