By Angela McDaniels
Tacoma, Wash., Dec. 5 - ABN Amro Bank NV priced $3.7 million of Knock-in Reverse Exchangeable Securities due June 6, 2008 linked to the common stock of SanDisk Corp., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 12.4% for an annualized rate of 24.8%. Interest is payable monthly.
The payout at maturity will be par unless SanDisk stock falls by more than 25% 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 SanDisk shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the lead agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-in Reverse Exchangeable Securities
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Underlying stock: | SanDisk Corp. (Symbol: SNDK)
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Amount: | $3.7 million
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Maturity: | June 6, 2008
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Coupon: | 24.8%, payable monthly
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Price: | Par
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Payout at maturity: | If SanDisk stock falls below the knock-in price during the life of the notes and finishes below the initial share price, 27.049 SanDisk shares; otherwise, par
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Initial share price: | $36.97
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Knock-in price: | $27.73, 75% of initial share price
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Pricing date: | Dec. 4
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Settlement date: | Dec. 7
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Agent: | ABN Amro Inc.
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