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ABN Amro to price 10% reverse exchangeables linked to General Electric
By E. Janene Geiss
Philadelphia, Oct. 2 - ABN Amro Bank NV plans to price an issue of reverse convertible notes due April 30, 2008 linked to General Electric Co. stock, according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 5% for an annualized coupon of 10%. Interest will be payable monthly.
The payout at maturity will be par unless the stock falls below the knock-in price - 90% of the initial share price - during the life of the notes and finishes below the initial share price, in which case the payout will be a number of General Electric shares equal to $1,000 divided by the initial share price.
The issue will price on Oct. 26 and settle on Oct. 31.
ABN Amro Inc. is the agent.
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