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ABN Amro plans issue of 12.5% Knock-in Reverse Exchangeables linked to Red Hat
By Jennifer Chiou
New York, June 7 - ABN Amro Bank NV plans to price an issue of 12.5% Knock-in Reverse Exchangeable notes due June 21, 2007 linked to Red Hat, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The proposed pricing date is June 16, and settlement is expected on June 21.
Payment at maturity will be determined according to the performance of Red Hat stock:
• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of Red Hat 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.
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