New Issue: ABN Amro sells $2.4 million 14.35% Knock-in Reverse Exchangeables linked to Goldcorp

By E. Janene Geiss

Philadelphia, May 29 - ABN Amro Bank NV priced $2.4 million of 14.35% Knock-in Reverse Exchangeable Securities due May 30, 2008 linked to Goldcorp Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.

Payment at maturity will be determined according to the performance of Goldcorp stock. If the stock trades at or below $17.99, the knock-in price, and closes below $22.49, the initial stock price, during the life of the notes, investors will receive a number of Goldcorp shares equal to $1,000 divided by the initial stock price. The knock-in price is 80% of the initial stock price.

Otherwise, investors will receive par in cash.

ABN Amro Inc. is the agent.

Issuer:	ABN Amro Bank NV
Issue:	Knock-in Reverse Exchangeable Securities
Underlying stock:	Goldcorp Inc.
Amount:	$2.4 million
Maturity:	May 30, 2008
Coupon:	14.35%, payable monthly
Price:	Par
Payout at maturity:	If Goldcorp stock closes below the knock-in price of $17.99 during the life of the notes and finishes below the initial stock price, 44.464 shares of Goldcorp stock; otherwise, par in cash
Initial stock price:	$22.49
Knock-in price:	$17.99, 80% of initial stock price
Exchange ratio:	44.464 shares, at maturity
Pricing date:	May 24
Settlement date:	May 30
Agent:	ABN Amro Inc.
Fees:	1.75%
Distribution:	Off shelf

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