New Issue: ABN Amro prices $500,000 15% reverse exchangeables linked to Apple

By Angela McDaniels

Tacoma, Wash., Jan. 20 - ABN Amro Bank NV priced $500,000 of Knock-in Reverse Exchangeable Securities due July 22, 2009 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.

The six-month notes will pay 7.5% for an annualized coupon of 15%. Interest is payable monthly.

The payout at maturity will be par unless Apple stock closes below the knock-in level - 60% of the initial share price - on July 17, 2009, in which case the payout will be a number of Apple shares equal to $1,000 divided by the initial price.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Apple Inc. (Nasdaq: AAPL)
Amount:	$500,000
Maturity:	July 22, 2009
Coupon:	15%, payable monthly
Price:	Par
Payout at maturity:	If Apple shares close below knock-in price on July 17, 2009, 12.146 Apple shares; otherwise, par
Initial share price:	$82.33
Knock-in price:	$49.40, 60% of initial price
Pricing date:	Jan. 16
Settlement date:	Jan. 22
Agent:	ABN Amro Inc.
Fees:	2%

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