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ABN Amro to price 34% knock-in notes linked to IndyMac
By Angela McDaniels
Seattle, Aug. 2 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due Feb. 29, 2008 linked to the common stock of IndyMac Bancorp, Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 17% for an annualized rate of 34%. Interest will be payable monthly.
The payout at maturity will be par unless IndyMac stock falls by more than 20% during the life of the notes and the final share price is less than the initial share price, in which case the payout will be a number of IndyMac shares equal to $1,000 divided by the initial share price.
The notes will price on Aug. 28 and settle on Aug. 31.
ABN Amro Inc. will be the agent.
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