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ABN Amro plans 16% Knock-in Reverse Exchangeables linked to Wells Fargo
By Susanna Moon
Chicago, Oct. 17 - ABN Amro Bank NV plans to price 16% annualized Knock-in Reverse Exchangeable Securities due April 30, 2009 linked to the common stock of Wells Fargo & Co., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
If the stock falls below the knock-in level - 60% of the initial share price - during the life of the securities and finishes below the initial share price, payout at maturity will be a number of Wells Fargo shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The notes are expected to price on Oct. 28 and settle on Oct. 31.
ABN Amro Inc. is the lead agent.
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