By Laura Lutz
Des Moines, Dec. 19 - ABN Amro Bank NV priced $2 million of 11.4% Knock-in Reverse Exchangeable Securities due June 24, 2008 linked to the common stock of Wal-Mart Stores, Inc., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If Wal-Mart stock falls below the knock-in level - 80% of the initial share price - during the life of the securities and finishes below the initial share price, the payout at maturity will be a number of Wal-Mart shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
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: | Wal-Mart Stores, Inc. (Symbol: WMT)
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Amount: | $2 million
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Maturity: | June 24, 2008
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Coupon: | 11.4%
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Price: | Par
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Payout at maturity: | If stock falls below knock-in level during life of securities and finishes below initial price, a number of shares equal to par divided by initial price; otherwise, par
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Initial price: | $48.39
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Knock-in price: | $38.71, 80% of initial price
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Pricing date: | Dec. 19
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Settlement date: | Dec. 24
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Agent: | ABN Amro Inc.
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