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ABN Amro plans issue of 13% Knock-In Reverse Exchangeables linked to Freeport-McMoran
By Jennifer Chiou
New York, May 10 - ABN Amro Bank NV plans to price an issue of 13% Knock-In Reverse Exchangeable notes due Feb. 26, 2007 linked to Freeport-McMoran Copper & Gold Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The proposed pricing date is May 19.
Payment at maturity will be based on the performance of Freeport-McMoran stock:
• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Freeport-McMoran shares equal to $1,000 divided by the initial stock price. The knock-in price will be 70% of the initial price;
• Otherwise the payout is par in cash.
LaSalle Financial Services Inc. and ABN Amro Inc. will be managers for the offering.
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