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ABN Amro plans 11% reverse exchangeable securities linked to AIG
By Laura Lutz
Des Moines, Nov. 2 - ABN Amro Bank NV plans to price 11% reverse exchangeable securities due May 30, 2008 linked to the common stock of American International Group, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless AIG stock falls below the knock-in level - 80% of the initial share price - during the life of the securities and finishes below the initial share price, in which case the payout will be a number of AIG shares equal to $1,000 divided by the initial share price.
The securities will price on Nov. 27 and settle on Nov. 30.
ABN Amro Inc. is the lead agent.
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