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ABN Amro plans 11.75% Knock-in Reverse Exchangeables linked to Massey Energy
By Jennifer Chiou
New York, June 5 - ABN Amro Bank NV plans to price 11.75% Knock-in Reverse Exchangeable Securities S-Notes due June 27, 2008 linked to Massey Energy Co. stock, according to a term sheet.
Payment at maturity will be determined according to the performance of Massey Energy stock. If the stock closes below the knock-in price during the life of the notes and finishes below the initial stock price, investors will receive a number of Massey Energy shares equal to $1,000 divided by the initial stock price. The knock-in price will be 70% of the initial stock price.
Otherwise, investors will receive par in cash.
The notes will price on June 22 and settle on June 27.
LaSalle Financial Services, Inc. will be the agent.
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