ABN Amro plans issue of 15.75% Knock-In Reverse Exchangeables linked to XM Satellite

By Angela McDaniels

Seattle, March 1 - ABN Amro Bank NV plans to issue 15.75% Annualized Knock-In Reverse Exchangeable senior medium-term series A notes due Dec. 15, 2006 linked to XM Satellite Radio Holdings Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Interest payments for the nine-month notes will be 11.81%, which is equivalent to an annualized interest rate of 15.75%. Interest will be payable quarterly.

The proposed pricing date is March 10.

Payment at maturity will be based on the performance of XM Satellite stock:

• If the stock trades at or below the knock-in price and closes below the initial price, investors will receive a number of XM Satellite shares equal to the stock redemption amount. The knock-in price will be 80% of the initial price;

• Otherwise the payout is par in cash.

LaSalle Financial Services, Inc. and ABN Amro Inc. will be the underwriters.

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