By Jennifer Chiou
New York, Dec. 11 - ABN Amro Bank NV priced $1.6 million of 10.1% annualized Knock-In Reverse Exchangeable Securities due March 13, 2008 linked to JPMorgan Chase & Co. stock, according to an FWP filing with the Securities and Exchange Commission.
Interest is payable monthly.
Payout at maturity will be par in cash unless JPMorgan stock falls below the protection price of $37.94, 80% of the initial price of $47.42, during the life of the notes and finishes below the initial price, in which case the payout will be a number of JPMorgan shares equal to $1,000 divided by the initial share price.
ABN Amro Inc. is the agent.
Issuer: | ABN Amro Bank NV
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Issue: | Knock-In Reverse Exchangeable Securities
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Underlying stock: | JPMorgan Chase & Co. (Symbol: JPM)
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Amount: | $1.6 million
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Maturity: | March 13, 2008
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Coupon: | 10.1%, payable monthly
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Price: | Par
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Payout at maturity: | Par in cash unless JPMorgan stock falls below the protection price during the life of the notes and finishes below the initial price, in which case 21.088 shares of JPMorgan stock
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Initial price: | $47.42
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Protection price: | $37.94, 80% of $47.42
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Exchange ratio: | 21.088
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Pricing date: | Dec. 10
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Settlement date: | Dec. 13
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Agent: | ABN Amro Inc.
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