By Susanna Moon
Chicago, March 26 - ABN Amro Bank NV priced $1.11 million of 21% annualized Knock-In Reverse Exchangeable Securities due June 27, 2008 linked to Valero Energy Corp. stock, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless Valero stock falls below the protection price - 80% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of Valero shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
| Issuer: | ABN Amro Bank NV
|
| Issue: | Knock-In Reverse Exchangeable Securities
|
| Underlying stock: | Valero Energy Corp. (NYSE: VLO)
|
| Amount: | $1.11 million
|
| Maturity: | June 27, 2008
|
| Coupon: | 21%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless the stock falls below the protection price and finishes below the initial price, in which case 20.79 Valero shares
|
| Initial price: | $48.10
|
| Protection price: | $38.48, or 80% of initial price
|
| Pricing date: | March 25
|
| Settlement date: | March 28
|
| Agent: | ABN Amro Inc.
|
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