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ABN Amro plans 28.75% reverse exchangeables linked to AK Steel Holding
By Jennifer Chiou
New York, April 22 - ABN Amro Bank NV plans to price 28.75% annualized Knock-in Reverse Exchangeable Securities S-Notes due July 31, 2009 linked to the common stock of AK Steel Holding Corp., according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The payout at maturity will be par unless AK Steel Holding stock falls by more than 40% during the life of the notes and finishes below the initial share price, in which case the payout will be a number of AK Steel Holding shares equal to $1,000 divided by the initial share price.
The notes are expected to price on April 27 and settle on April 30.
ABN Amro Inc. is the agent.
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