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ABN Amro plans issue of 14% knock-in reverse convertibles linked to XM Satellite Radio
By Angela McDaniels
Seattle, Aug. 28 - ABN Amro plans to price an issue of 14% knock-in reverse convertible notes due Sept. 10, 2007 linked to XM Satellite Radio Holdings Inc. stock, according to the agent for the deal, LaSalle Financial Services Inc.
Interest will be payable quarterly.
The pricing date will be Sept. 8 with settlement on Sept. 13.
Payout at maturity will be par in cash unless XM stock hits the knock-in level - 60% 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 XM shares equal to $1,000 divided by the initial price.
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