New York, Feb. 19 - ABN Amro Bank NV priced $10.5 million of reverse exchangeable securities liked to Charles Schwab Corp. common stock, according to a filing with the Securities and Exchange Commission.
The securities, sold from ABN Amro's medium-term note program, pay par at maturity unless Schwab's stock closes below $14.99, its closing level on the pricing date, on the third business day before maturity. If that happens, noteholders receive 66.711 shares per $1,000 note, causing them to participate in any downside in Schwab stock.
The notes were priced Feb. 14 via lead manager ABN Amro Financial Services, Inc.
| Issuer: | ABN Amro Bank NV
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| Amount: | $10.5 million
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| Maturity: | Feb. 20, 2004
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| Coupon: | 13% payable semi-annually beginning Aug. 20, 2002
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| Price: | Par
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| Payout at maturity: | Par unless Schwab stock closes below $14.99 on the third business day before maturity in which case 66.711 shares of Schwab stock
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| Settlement: | Feb. 20
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| Listing: | "REX.K" on America Stock Exchange
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