By Susanna Moon
Chicago, March 18 - ABN Amro Bank NV priced $1.4 million of 16.5% Knock-In Reverse Exchangeable Securities due Sept. 19, 2008 linked to Wells Fargo & Co. 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 Wells Fargo stock falls below the protection price - 75% 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 Wells Fargo 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: | Wells Fargo & Co. (NYSE: WFC)
|
| Amount: | $1.4 million
|
| Maturity: | Sept. 19, 2008
|
| Coupon: | 16.5%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Wells Fargo stock falls below the protection price and finishes below the initial price, in which case 35.149 Wells Fargo shares
|
| Initial share price: | $28.45
|
| Protection price: | $21.34, or 75% of initial price
|
| Pricing date: | March 14
|
| Settlement date: | March 19
|
| Agent: | ABN Amro Inc.
|
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