ABN Amro plans issue of 18.75% reverse exchangeables linked to U.S. Steel

By Angela McDaniels

Seattle, Aug. 14 - ABN Amro Bank NV plans to price an issue of 18.75% reverse exchangeable notes due May 30, 2007 linked to United States Steel Corp. stock, according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable quarterly.

The proposed pricing date is Aug. 25 with settlement on Aug. 30.

Payout at maturity is par in cash unless United States Steel stock hits the knock-in level - 80% of the initial price - during the life of the notes and finishes below the initial price, in which case the payout will be a number of United States Steel shares equal to $1,000 divided by the initial price.

ABN Amro Inc. will be the underwriter.

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