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ABN Amro to price 19.75% reverse exchangeables linked to DryShips
By Angela McDaniels
Tacoma, Wash., Oct. 1 - ABN Amro Bank NV plans to price Knock-In Reverse Exchangeable Securities due April 9, 2010 linked to the common stock of DryShips Inc., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will pay 9.875% for an annualized coupon of 19.75%. Interest is payable monthly.
The payout at maturity will be par in cash unless DryShips shares fall below 60% of the initial price during the life of the notes and finish below the initial price, in which case the payout will be a number of DryShips shares equal to $1,000 divided by the initial price.
The notes will price Oct. 6 and settle Oct. 9.
RBS Securities Inc. is the agent.
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