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ABN Amro plans 21% Knock-in Reverse Exchangeables linked to Chipotle Mexican Grill
By E. Janene Geiss
Philadelphia, Dec. 6 - ABN Amro Bank NV plans to price Knock-in Reverse Exchangeable Securities due June 30, 2008 linked to the common stock of Chipotle Mexican Grill, Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 10.5% for an annualized rate of 21%. Interest will be payable monthly.
If the stock falls below the knock-in level - 75% 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 Chipotle shares equal to par divided by the initial share price.
Otherwise, the payout will be par.
The securities are expected to price on Dec. 21 and settle on Dec. 31.
ABN Amro Inc. is the lead agent.
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